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S. 2948 (113th): Medicaid Generic Drug Price Fairness Act

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The text of the bill below is as of Nov 20, 2014 (Introduced). The bill was not enacted into law.

II

113th CONGRESS

2d Session

S. 2948

IN THE SENATE OF THE UNITED STATES

November 20, 2014

introduced the following bill; which was read twice and referred to the Committee on Finance

A BILL

To extend the requirement that drug manufacturers that increase prices faster than inflation pay an additional rebate to State Medicaid programs to include manufacturers of generic drugs.

1.

Short title

This Act may be cited as the Medicaid Generic Drug Price Fairness Act .

2.

Applying the Medicaid additional rebate requirement to manufacturers of generic drugs

(a)

In general

Section 1927(c)(3)(A) of the Social Security Act ( 42 U.S.C. 1396r–8(c)(3)(A) ) is amended—

(1)

in clause (ii), by striking the period and inserting ,; and

(2)

by adding at the end the following flush text:

and shall be increased by an amount determined in the same manner as the increase in the amount of a rebate for a single source drug or an innovator multiple source drug is determined under paragraph (2).

.

(b)

Effective date

The amendments made by this section shall apply to rebate periods beginning on or after the date of enactment of this Act.