Small Biotech Innovation Act

This bill exempts certain drugs developed by small biotech companies from Medicare's drug price negotiation program starting in 2029. It creates a new exception for "research and development-intensive small biotech manufacturers" that invest a specific percentage (ranging from 30% to 70%) of their net revenue into R&D over the previous three years. To qualify, a company must have five or fewer "qualifying single source drugs" (drugs with no competitors) and meet the R&D investment threshold. Manufacturers must annually apply to the Secretary, providing financial data and certification, to maintain the exemption for their qualifying drugs.