1. Short title This Act may be cited as the Producing Incentives for Long-term production of Lifesaving Supply of Medicine Act or the PILLS Act . 2. Generic drugs and biosimilars production credit (a) In general Subpart D of part IV of chapter A of chapter 1 of the Internal Revenue Code of 1986 amended by adding at the end the following new section: 45BB. Generic drugs and biosimilars production credit (a) In general (1) Allowance of credit For purposes of section 38, the generic drugs and biosimilars production credit for any taxable year is an amount equal to the credit amount determined under subsection (b) with respect to each eligible component which is— (A) produced by the taxpayer in the United States, and (B) sold by such taxpayer to an unrelated person during the taxable year. (2) Production and sale must be in trade or business