S 5339
Medical Innovation Act of 2024
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
The Medical Innovation Act of 2024 seeks to increase congressional investments in medical research by establishing a system of supplemental payments. It defines a ‘covered blockbuster drug’ based on manufacturer sales and links these payments to settlement agreements between the government and pharmaceutical companies that have resulted in penalties or settlements related to alleged violations of various Federal laws. Covered manufacturers will be assessed supplemental payments based on their net income and the size of any settlement agreements they’ve entered into, with the funds directed to the Food and Drug Administration and the National Institutes of Health for urgent medical research priorities.
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