H. R. 7174 proposes an amendment to the Social Security Act to make the negotiation period the same for small-molecule and biologic drug candidates under the Drug Price Negotiation Program. Specifically, the bill changes the current negotiation period from 7 years to 11...
Simple Explanation
H. R. 7174 is a bill that wants to change how long it takes to talk about and decide prices for new medicines, making it the same amount of time for all types of medicines. It suggests that instead of taking 7 years, this process should take 11 years.