The Senate passed the United States-Mexico-Canada Agreement (USMCA) Implementation Act (H.R. 5430), which will replace the North American Free Trade Agreement, by a vote of 89-10. Notably, the revised trade deal eliminates the provision providing manufacturers of biologic products with 10 years of data exclusivity. Under current law, pharmaceutical companies are guaranteed 12 years of data protection for biologics.
As noted by Senate Finance Committee Chairman Chuck Grassley (R-IA), “all eyes will be on Canada,” since Mexico has already ratified USMCA. President Trump is expected to sign the deal.