Bill
HR 3493
Overview: HR 3493, the Global Fairness in Drug Pricing Act, was introduced in the House on May 19, 2025.Purpose and Intent: The bill aims to address the high cost of prescription d
Overview: HR 3493, the Global Fairness in Drug Pricing Act, was introduced in the House on May 19, 2025.
Purpose and Intent: The bill aims to address the high cost of prescription drugs in the United States by requiring pharmaceutical companies to charge the same or lower prices for drugs sold in the U.S. as they do in other economically advanced countries.
Key Provisions:
- Requires drug manufacturers to report the prices charged for their products in the U.S. and in other major markets
- Directs the Secretary of Health and Human Services to establish a maximum fair price for each drug based on the lowest price charged in certain reference countries
- Prohibits drug companies from charging more in the U.S. than the maximum fair price
- Imposes penalties on drug manufacturers that do not comply with the pricing requirements
Affected Parties and Impacts: The bill would primarily impact pharmaceutical companies and U.S. consumers of prescription drugs. It is intended to lower drug prices for patients and reduce the financial burden of healthcare costs.
Procedural and Timeline Considerations: The bill has been introduced in the House and is currently awaiting further legislative action, such as committee consideration and a potential floor vote.
Compiled from official sources — confirm details with the bill’s official record.
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