Medicare Prescription Drug Price Negotiation Act

Medicare Prescription Drug Price Negotiation Act - Requires each participating manufacturer of a covered outpatient drug to make such drugs available for purchase by any qualified Federal health care provider, by each pharmacy, and by each provider of services, physician, practitioner, and supplier under the Medicare program at a price that the Secretary of Health and Human Services, in conjunction with the Secretary of Defense and the Secretary of Veterans Affairs, negotiates with the manufacturer. Provides that the amount of a covered outpatient drug that a participating manufacturer shall make available for purchase is equal to the sum of the aggregate amounts of the covered outpatient drug dispensed by pharmacies to Medicare beneficiaries plus those dispensed through qualified Federal health care providers.

Requires that, in conducting negotiations with participating manufacturers, the Secretary take into account the goal of promoting the development of breakthrough drugs.

Requires the United States to exclude from Government contracting and subcontracting, for a period of time, a manufacturer of drugs or biologicals that does not comply with this Act.

Directs the Secretary to establish a mechanism (such as an ombudsman) for the resolution of disputes between Medicare beneficiaries and prescription drug resellers and drug manufacturers in order to protect such beneficiaries and to ensure that: (1) prescription drug resellers are not artifically increasing prices charged to Medicare beneficiaries (above those negotiated under this Act) in places (such as rural areas) where there is less competition; and (2) such resellers are not colluding on prices in areas with more potential significant competition.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov