US SB1891

Creates a new tax credit (Section 45BB) equal to 30% of value added for generic drugs and biosimilars produced and sold in the United States, increasing to 35% for final production of drug substances, drug products, or biological products

Provides a domestic content bonus that increases the base credit percentage by up to 20% based on the percentage of U.S.-produced materials and components used in manufacturing

Establishes a phased sunset beginning after December 31, 2030, reducing the credit to 75% in 2031, 50% in 2032, 25% in 2033, and 0% thereafter

Creates a separate 25% investment tax credit (Section 48F) for qualified investments in facilities used to produce eligible components, including buildings and equipment, with construction required to begin before December 31, 2028

Disqualifies foreign entities of concern from claiming either credit, and excludes components produced at facilities subject to unresolved FDA warning letters issued after September 1, 2009