PhRMA Act of 2005

H.R. 870, the Pharmaceutical Research and Manufacturers Accountability Act of 2005, proposes stricter oversight and penalties for drug manufacturers regarding the safety of their products. The bill would require CEOs of pharmaceutical companies to personally certify every year that they have disclosed all evidence of serious side effects or adverse reactions to the Food and Drug Administration (FDA).

For the public, this legislation aims to increase transparency and safety by holding high-level executives legally and financially responsible if they knowingly hide evidence of dangerous drug risks. Additionally, the bill would empower the FDA to set strict deadlines for "post-marketing" safety studies and impose penalties on companies that fail to complete these required evaluations on time. If a company fails to provide the required safety certifications, the FDA would have the authority to withdraw that drug’s approval from the market.