1. Short title This Act may be cited as the Lowering Prescription Drug Prices for America’s Seniors and Families Act of 2020 . 2. Negotiation of prices for certain covered part D drugs following period of exclusivity (a) In general Section 1860D–11 of the Social Security Act ( 42 U.S.C. 1395w–111 ) is amended— (1) in subsection (i), by striking In order and inserting Except as provided in subsection (k), in order ; and (2) by adding at the end the following new subsection: (k) Negotiation of prices for certain covered part D drugs following period of exclusivity (1) In general Notwithstanding any other provision of law, subject to paragraph (2), the Secretary shall, for plan years beginning on or after the date on which the applicable period with respect to an applicable covered part D drug (as those terms are defined in paragraph (3)) expires— (A) negotiate directly with pharmaceutical manufacturers the prices that may be charged to PDP sponsors and MA organizations for such applicable covered part D drug; and (B) complete such negotiations not later than 3 months prior to the beginning of each such plan year. (2) Use of Medicaid best price if negotiations fail In the case where the Secretary is not able to reach an agreement under paragraph (1) with respect to an applicable covered part D drug for a plan year by the date specified in paragraph (1)(B), the price that a pharmaceutical manufacturer may charge to PDP sponsors and MA organizations for such applicable covered part D drug for the plan year shall be determined using the methodology used to determine the best price of a covered outpatient drug under section 1927(c)(1)(C). (3) Definitions In this subsection: (A) Applicable covered part D drug The term applicable covered part D drug means a covered part D drug for which there is in effect— (i) in the case of a drug approved under section 505 of the Federal Food, Drug, and Cosmetic Act, a patent on an active ingredient of the drug