S. 832 aims to amend the Social Security Act to make the negotiation period for drug prices the same for both small-molecule drugs and biologic drugs. The bill would change the initial applicability year so that starting in 2028, there is an extended period, at least 11...
Simple Explanation
This bill wants to make the waiting time the same before starting talks about how much certain medicines should cost, so both tiny and big medicines have to wait at least 11 years before any price talks can begin. This change is meant to help make new medicines while controlling how much they cost.