US SB1836

Increases the number of drugs selected for Medicare price negotiation from 15 to 50 annually starting in 2028 and subsequent years

Reduces the eligibility waiting period for small molecule drugs from 7 years to 3 years after FDA approval, and for biological products from 11 years to 3 years

Lowers maximum fair price ceilings: from 75% to 76% of non-federal average manufacturer price for short-market drugs, from 65% to 55% for medium-market drugs, and from 40% to 30% for long-market drugs

Amendments apply to initial price applicability years beginning with 2028