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This bill requires federal agencies to include reasonable pricing agreements in all research funding arrangements and intellectual property licenses for biomedical products developed with federal funds. Reasonable pricing is defined to ensure U.S. residents do not pay more than the median price charged in Canada and six other high-income OECD countries. The Secretary of Health and Human Services may establish additional pricing requirements, grant waivers in the public interest, and require manufacturers to report development costs, federal subsidies, and annual revenues.
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