H. R. 1492 proposes to change the Social Security Act to better balance the time allowed for negotiation of drug prices between small-molecule drugs and biologic drugs. Specifically, it suggests extending the negotiation period from 7 years to 11 years for certain biologic...
Simple Explanation
H. R. 1492 wants to make sure that the time for talking about prices for two types of medicines, called small-molecule and biologic drugs, is fair. It says that people should have more time to talk about prices for biologic drugs, giving them 11 years instead of 7 years.