PREPARE ACT of 2024

The PREPARE Act of 2024 requires the U.S. government to create a Strategic Active Pharmaceutical Ingredient Reserve for essential generic medicines - common, critical drugs like antibiotics, life-saving treatments, and those needed for public health emergencies. It mandates an annual review of a publicly listed set of these medicines (based on an existing FDA list), with updates considering supply chain risks, geographic concentration, and needs for specific populations like children. The bill sets phased targets: by 2034, the reserve must hold 90% of key drug components needed to produce these medicines for U.S. patients, prioritizing domestic manufacturing to reduce reliance on foreign supply chains. This aims to prevent shortages during emergencies by ensuring a stable supply of essential drugs through government stockpiling and strategic partnerships with domestic manufacturers.