Public Law 115 - 263 - Patient Right to Know Drug Prices Act

The US Congress and President Donald Trump enacted Public Law 115-263, the Patient Right to Know Drug Prices Act, in Washington D.C. during the 115th Congress in 2018, responding to growing concerns about skyrocketing prescription drug costs and lack of price transparency in the American healthcare system. This landmark legislation represents a significant federal effort to address one of the most pressing healthcare issues facing American consumers, requiring pharmaceutical manufacturers to disclose more information about drug pricing strategies and the factors contributing to rising costs. The law mandates that drug companies provide advance notification to health plans and pharmacy benefit managers about substantial price increases for certain prescription medications, creating a new level of accountability in an industry that has historically operated with limited transparency. Additionally, the legislation requires the Secretary of Health and Human Services to develop a public database comparing prices of prescription drugs in the United States with prices in other countries, potentially highlighting the significant price disparities that exist globally for the same medications.