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Essential Medicines Strategic Stockpile Act of 2023

Source: Congress.gov  ·  2,143 words in original text
This bill creates a pilot program to build stockpiles of generic drugs that are at risk of running out so Americans can access these medicines. The Secretary (the head of a federal health agency) will award contracts to eligible businesses to buy, store, manage and distribute these drugs to customers across the country.
• The Secretary of Health and Human Services • Eligible entities (manufacturers, wholesale distributors, pharmacy co-ops and chain pharmacy warehouses) that enter contracts • Wholesale distributors and dispensers (pharmacies) that receive drugs from stockpiles • Consumers in the United States who need access to generic drugs
• The Secretary must award contracts to eligible entities starting no later than January 1, 2024, to create and manage stockpiles of up to 50 selected generic drugs that have faced shortages (Sec. 340J(a) and (b)). • Each stockpile must contain enough drugs to supply American customers for at least 6 months based on historic demand, and the Secretary will specify the exact quantity needed for each drug (Sec. 340J(a) and (c)). • Contracts can last no more than 3 years, and eligible entities can sell off their stockpiled drugs through regular commercial channels when the contract ends (Sec. 340J(d)). • The Secretary will pay eligible entities monthly fees to manage their stockpiles, but payment only begins after the entity proves it has stockpiled an acceptable amount as determined by the Secretary (Sec. 340J(f)). • The Secretary may pay advance amounts up to 10 percent of the total contract value if needed to help the entity succeed, and can also pay for additional capital costs related to storing the extra inventory (Sec. 340J(f)(1)(B)). • The Comptroller General (an independent government auditor) must evaluate the program 1 year after it starts and every year after, then report to Congress on costs, savings, whether shortages were prevented, and how well eligible entities followed their contracts (Sec. 340J(g)).
If this bill becomes law, the federal government will create a new system where private businesses store extra supplies of certain generic drugs that frequently run out. These businesses will receive monthly payments to maintain these stockpiles and must keep drugs in stock for at least 6 months. When the private sector normally sells these drugs through their usual business channels, it helps prevent shortages without the government building its own storage facilities.
• Eligible entity: A business that is licensed under federal and state law, sells more than 90 percent of its drugs to pharmacies or other dispensers, and agrees to buy drugs directly from manufacturers or authorized distributors and only sell them to its regular customers (Sec. 340J(h)(1)). • Generic drug at risk of shortage: A drug approved through a specific federal process, listed as essential by the Food and Drug Administration, that appeared on the federal drug shortage list sometime in the last 3 years, and is made by 3 or fewer manufacturers (Sec. 340J(h)(2)).
Not specified in bill text
Important: This plain English summary was generated by AI and is provided for informational purposes only. It is not legal advice. Always consult the official bill text on Congress.gov or a qualified attorney for legal matters.