1. Short title This Act may be cited as the Stopping the Pharmaceutical Industry from Keeping Drugs Expensive (SPIKE) Act of 2017 . 2. Drug manufacturer price transparency Title XI of the Social Security Act ( 42 U.S.C. 1301 et seq.) is amended by inserting after section 1128I the following new section: 1128J. Drug manufacturer price transparency (a) In general Effective beginning on January 1, 2018, subject to subsection (e), the Secretary shall require a manufacturer of an applicable drug to submit to the Secretary the justification described in subsection (c) in accordance with the timing described in subsection (d). (b) Definitions In this section: (1) Applicable drug Subject to paragraph (2), the term applicable drug means a drug, as defined in section 201(g) of the Federal Food, Drug, and Cosmetic Act ( 21 U.S.C. 321(g) ), that is subject to section 503(b)(1) of such Act ( 21 U.S.C. 353(b)(1) ), and that the Secretary determines is described in either of the following subparagraphs: (A) The drug (per dose)— (i) has a wholesale acquisition cost of at least $10 dollars; and (ii) had an increase in the wholesale acquisition cost of the drug, with respect to determinations made— (I) during 2019, of at least 100 percent since the date of the enactment of this section; (II) during 2020, of at least 100 percent in the preceding 12 months or of at least 150 percent in the preceding 2 years; (III) during 2021, of at least 100 percent in the preceding 12 months or of at least 200 percent in the preceding 3 years; (IV) during 2022, of at least 100 percent in the preceding 12 months or of at least 250 percent in the preceding 4 years; or (V) on or after January 1, 2023, of at least 100 percent in the preceding 12 months or of at least 300 percent in the preceding 5 years. (B) The drug (per dose)— (i) is in the top 50th percentile of net spending under title XVIII or XIX in at least one of the preceding 5 years