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

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

Brand name drug

A drug marketed under a proprietary, protected name, usually by the company that developed and patented it.

Government-granted exclusivities

Legal protections, such as patents or market exclusivities, granted by the government that prevent other companies from making or selling a drug for a certain period.

Median price

The middle value in a list of prices when arranged from lowest to highest; half the prices are above it, and half are below it.

Reference countries

A specific group of countries (Canada, the United Kingdom, Germany, France, and Japan) whose drug prices are used for comparison in this bill.

Open, non-exclusive licenses

Permission granted by the government to multiple companies to make, use, sell, or import a drug, without giving any single company exclusive rights.

Generic drug

A medication that is chemically identical to a brand-name drug and approved by the FDA, but typically sold at a much lower price after the brand-name patent expires.

Biosimilar biological product

A biological product that is highly similar to an already approved biological product (a 'reference product') and has no clinically meaningful differences from the reference product in terms of safety, purity, and potency.