S. 5265 — USTRx Act

This section states findings that foreign pharmaceutical price controls undervalue innovative drugs developed in the United States, reduce global incentives for new medicines, and shift development costs to American patients and taxpayers. It expresses the sense of Congress that foreign governments should adopt transparent, nondiscriminatory, market-based reimbursement regimes to ensure they pay a fair share of those costs.

This section establishes the position of Chief Pharmaceutical Trade Negotiator within the Office of the United States Trade Representative. The Chief Pharmaceutical Trade Negotiator shall conduct trade negotiations, enforce agreements relating to United States pharmaceutical products, advocate for United States manufacturers and consumers of such products, and address acts, policies, or practices of high-income countries that have a significant adverse impact on market access for United States pharmaceutical manufacturers, while coordinating as appropriate with the Chief Innovation and Intellectual Property Negotiator.

This section requires the United States Trade Representative to compile and annually update a list of high-income countries, as defined by World Bank statistics, and to submit and publish online an annual report to the House Ways and Means Committee and Senate Finance Committee on each listed country’s acts, policies, and practices affecting pharmaceutical trade. The report must review the prior fiscal year, determine whether those practices meet any of six specified criteria (including lack of transparency, denial of reciprocal access, or violation of trade agreements), and describe the status of any prior U.S. responsive actions.

This section requires the United States Trade Representative to submit a plan to respond to an act, policy, or practice by a high-income country listed under section 4(a) that meets criteria in section 4(b)(2), within 30 days after making such a determination. The plan must be submitted to the House Committee on Ways and Means and the Senate Committee on Finance and may include initiating an investigation under title III of the Trade Act of 1974.