Statutory Updates to Branded Prescription Drug Fee Regulations

Bottom Line

💡 Statutory Updates to Branded Prescription Drug Fee Regulations. Worth reviewing for potential client impact.

Summary

[Proposed Rule] This document proposes amendments to regulations regarding the annual fee imposed on covered entities engaged in the business of manufacturing or importing certain branded prescription drugs. In response to the replacement of the Coverage Gap Discount Program with the new Manufacturer Discount Program by the Inflation Reduction Act of 2022, the proposed regulations would make updates regarding the discounts, rebates, and other price concessions used to determine branded prescription drug sales under Medicare Part D and would update for prior statutory changes. These proposed regulations would affect persons engaged in the business of manufacturing or importing certain branded prescription drugs.

Classification

Affected Groups

All tax practitioners

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