H.R. 2823, The Fair Balance Prescription Drug Advertisement Act of 2007

• This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.

Version saved on July 19, 2007, 18:21:41, by webmaster:

H.R. 2823 would amend the Internal Revenue Code of 1986 to deny any deduction for direct-to-consumer advertisements of prescription drugs that fail to provide certain information or to present information in a balanced manner, it would amend the Federal Food, Drug, and Cosmetic Act to require reports regarding such advertisements, and it would amend such Code to deny any deduction for direct-to-consumer advertisements of qualified prescription drugs for a two-year period.

Detailed Summary

Fair Balance Prescription Drug Advertisement Act of 2007 - Amends the Internal Revenue Code to disallow a tax deduction for: (1) expenses for direct-to-consumer prescription drug advertising that fails to provide adequate information on drug side effects, contraindications, or lack of effectiveness; and (2) expenses for direct-to-consumer prescription drug advertising of a new drug, a new combination of active substances, or a new delivery system for an existing drug for a two-year period after the introduction of such drug into interstate commerce.

Amends the Federal Food, Drug, and Cosmetic Act to require the Secretary of Health and Human Services to report to the Secretary of the Treasury on misbranding and other violations relating to direct-to-consumer prescription drug advertising.

Status of the Legislation

Latest Major Action: 6/21/2007: Referred to House committee. Status: Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Points in Favor

(Log in to edit the wiki and be the first to show why the bill should pass!)

Points Against

(Log in to edit the wiki and be the first to show why the bill should not pass!)

« Return to Revision History.