US SB1930

Exempts qualifying drugs from small biotech manufacturers from Medicare drug price negotiations starting in 2029, provided the manufacturer meets research and development investment thresholds

Defines "small biotech manufacturer" as a company with 5 or fewer qualifying single source drugs that is not owned, controlled, or organized under the laws of a covered foreign nation (such as China, Russia, Iran, or North Korea)

Requires R&D spending thresholds based on number of drugs: 30% of net revenue for 1 drug, scaling up to 70% for 5 drugs, calculated as a 3-year average

Removes exemption if a qualifying small biotech manufacturer is acquired by a larger company that doesn't meet the R&D-intensive criteria, effective the following plan year

Establishes annual application process requiring manufacturers to submit revenue and R&D expenditure data with certification, plus a dispute resolution process for eligibility determinations