for Medical Innovation Prizes established under section 7. (3) Drug The term drug has the meaning given such term in section 201 of the Federal Food, Drug, and Cosmetic Act ( 21 U.S.C. 321 ). (4) Fund The term Fund means the Fund for Medical Innovation Prizes established under section 6. (5) Market clearance The term market clearance means the approval of an application under section 505 of the Federal Food, Drug, and Cosmetic Act ( 21 U.S.C. 355 ) or the approval of a biologics license application under subsection (a) of section 351 of the Public Health Service Act ( 42 U.S.C. 262 ). 5. Elimination of exclusive rights to market drugs and biological products (a) In general Notwithstanding title 35, United States Code, relevant provisions of the Federal Food, Drug, and Cosmetic Act ( 21 U.S.C. 301 et seq.) (including amendments made by the Drug Price Competition and Patent Term Restoration Act of 1984 ( Public Law 98–417