An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

Most-favored-nation price targets

A pricing strategy where a country ensures that the prices it pays for a product, in this case, prescription drugs, are no higher than the lowest price available in other comparable countries.

Rulemaking plan

A formal process by which government agencies propose and create new regulations or rules, often involving public input, before they become law.

Anticompetitive practices

Business activities that prevent or reduce competition in a market, such as price fixing, monopolization, or unfair mergers, which can harm consumers by leading to higher prices or fewer choices.

Secretary of Health and Human Services (HHS)

The head of the U.S. Department of Health and Human Services, a cabinet-level position responsible for protecting the health of all Americans and providing essential human services.

Centers for Medicare & Medicaid Services (CMS)

A federal agency that runs the Medicare program (health insurance for people 65 or older, some younger people with disabilities, and people with End-Stage Renal Disease) and works with states to administer Medicaid (health insurance for low-income Americans).

Federal Trade Commission (FTC)

An independent agency of the United States government whose principal mission is the promotion of consumer protection and the elimination and prevention of anticompetitive business practices.