House Bills - 109th Congress

H.R.417—The Medical Innovation Prize Act of 2005

On January 26, 2005, Representative Bernard Sanders (I-VT) introduced H.R. 417, the Medical Innovation Prize Act of 2005. The bill is designed to provide incentives to invest in research and development of new medicines by establishing a “Medical Innovation Prize Fund.” The bill would eliminate certain existing incentives, including certain rights to exclusively manufacture, distribute and sell drugs or biological products. The NIH Director would sit on the Board of Trustees for the Fund for Medical Innovation Prizes. The bill has no cosponsors, and was referred to the House Committees on Judiciary and on Energy and Commerce.

Legislative Update (December 2006) : Medical Innovation Prize Act of 2005