H.R. 1492 — To amend title XI of the Social Security Act to equalize the negotiation period between small-molecule and biologic candidates under the Drug Price Negotiation Program.

H.R. 1492 — To amend title XI of the Social Security Act to equalize the negotiation period between small-molecule and biologic candidates under the Drug Price Negotiation Program. | JustPolicyThe purpose of this legislation is to modify the Drug Price Negotiation Program by extending the negotiation period for certain types of drugs. Specifically, it aims to equalize the time allowed for negotiating prices between small-molecule drugs, which are typically simpler chemical compounds, and biologic drugs, which are more complex products made from living organisms. The key provision of this legislation is the change in the negotiation period for biologic candidates. It increases the negotiation period from 7 years to 11 years.