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Standard Summary
Comprehensive overview in 1-2 paragraphs
The PILLS Act establishes tax credits to incentivize domestic production of generic drugs and biosimilars.
Key Points
- 1Creates a 30% production tax credit for generic drugs and biosimilars made in the U.S.
- 2Increases credit to 35% for final production of drug substances, products, or biological products
- 3Adds domestic content bonus credit based on percentage of U.S.-made materials
- 4Includes elective payment and transferability provisions for the credits
- 5Establishes a separate 25% investment tax credit for qualified facilities
- 6Phases out production credit starting in 2031, ending in 2034
Impact Areas
Pharmaceutical manufacturersGeneric drug industryBiosimilar producersU.S. domestic manufacturingHealthcare costs and supply chain
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