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118-s-5339Committee
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Medical Innovation Act of 2024

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Summary

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The Medical Innovation Act of 2024 authorizes the federal government to assess supplemental payments from pharmaceutical manufacturers that have entered into settlement agreements for violations of federal law and produce blockbuster drugs (with over $1 billion in annual sales) developed using federally-funded research. The payment amount ranges from 0.75% to 1.5% of the manufacturer's net income, multiplied by the number of qualifying drugs, with collected funds directed to increase congressional investments in medical research. The bill establishes procedures for identifying covered manufacturers, publishing payment information, and collecting these supplemental payments annually.

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Bill details

Congress
118
Bill type
s
Introduced
November 18, 2024
Sponsor
Not yet available
Last action
November 18, 2024— Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

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