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S. 627: Medical Innovation Prize Fund Act

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S. 627: Medical Innovation Prize Fund Act

113th Congress · introduced 2013-03-20 · Health · Latest: Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2013-03-20 · official record
  2. Who proposed it: Sen. Sanders, Bernard [I-VT] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Read twice and referred to the Committee on Health, Education, Labor, and Pensions. Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Medical Innovation Prize Fund Act

Plain summary

Medical Innovation Prize Fund Act - Denies any person the exclusive right to manufacture, distribute, sell, or use in interstate commerce a drug, a biological product, or a drug or biological product manufacturing process, including the exclusive right to rely on health registration data or the 30-month stay-of-effectiveness period for Orange Book patents. Prescribes remuneration, in the form of prize payments from a Fund for Medical Innovation Prizes, in lieu of such market exclusivity. Establishes: (1) the Fund for Medical Innovation Prizes; and (2) a Board of Trustees for such Fund, which shall award prize payments for medical innovation and establish independent expert advisory committees. Directs the Board to award prize payments for medical innovation relating to a drug, a biological product, or a new manufacturing process for a drug or biological product to: (1) the first person to receive market clearance with respect to the drug or biological product; (2) the holder of the patent with respect to a manufacturing process; or (3) persons or communities that as an open source contribution openly shared knowledge, data, materials, and technology on a royalty-free and nondiscriminatory basis. Requires the Board to establish and periodically modify minimum levels of funding for such awards for priority research and development, including global neglected diseases, orphan diseases, and global infectious diseases and other global public health priorities. Allows the Board of Trustees to authorize multiple nonprofit intermediaries to reward projects for interim research and development of products or for open source dividend prizes. Requires the Comptroller General (GAO) to conduct annual audits to determine the Board's effectiveness in bringing to market new drugs, vaccines, biological products, and manufacturing processes in a cost-effective manner and in addressing society's global medical needs. Establishes an annual fee for health insurers to fund this Act.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Medical Innovation Prize Fund Act

Source: Congressional Research Service summary (Introduced in Senate)

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The strongest published arguments

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Sanders, Bernard [I-VT] · 0 cosponsors

Cost estimate: No cost estimate published yet.

Sponsor's campaign money: Sen. Sanders, Bernard [I-VT] reported raising $26.5 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (1)
Authorization
A law that creates or continues a government program and says what it may do, often with a suggested spending ceiling. An authorization alone does not provide money; a separate appropriation does.

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong113-s627 · catalog fed-us-congress-bills-cong113 · updated 2026-11-15 by psicol fed-bills-cong113