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for treatments of rare pediatric diseases (RPD). for prevention and treatment of certain tropical diseases (TD).for prevention or treatment for material threat medical countermeasures (MTMC).for treatments aligned with U.S national health priorities through the Commissioner’s National Priority Voucher (CNPV) program.
Addressing a health crisis in the U.S.Delivering more innovative cures for the American people.Addressing unmet public health needs.Increasing domestic drug manufacturing as a national security issue.
RPD, TD, or MTMC priority review vouchers (PRV) may be redeemed to obtain priority review for a product application that would otherwise not receive priority review. PRVs can also be sold or transferred between different companies.A CNPV, may be redeemed to reduce the timelines for FDA review from approximately 10-12 months to 1-2 months. These vouchers cannot be sold or transferred to another company and must be redeemed within 2 years.
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PRIORITY REVIEW VOUCHER WATCH
Tracking FDA Priority Review Voucher issuances, sales, redemptions and news.
Background
The FDA Priority voucher programs incentivise drug development and reward companies:
No. of vouchers
issued
No. of publicly
disclosed voucher sales
119
80
No. of vouchers
redeemed
No. of vouchers with
unknown/unused status
69
50
Highest reported
PRV sale price
Last reported
PRV sale price
$350,000,000
$200,000,000
There are no rows in this table
Key events:
Jan 2026: Consolidated Appropriations Act, 2026
The Bill includes extention of the rare pediatric disease priority review voucher program to 2029. The Bill has been passed in the Senate and the House.
Nov 2025: FDA Commissioner’s National Priority Voucher program
17 June 2025, the FDA announced a Commissioner’s National Priority Voucher (CNPV) program to enhance the health interests of Americans.
The voucher may be redeemed by drug developers to participate in a novel priority program by the FDA that shortens its review time from approximately 10-12 months to 1-2 months following a sponsor’s final drug application submission. There will be a limited number of vouchers issued in the first year to companies that are aligned with the national health priorities of:
Vouchers can be directed by the FDA towards a specific investigational new drug of a company or be granted to a company as an undesignated voucher, allowing a company to use the voucher for a new drug at the company’s discretion and consistent with the program’s objectives. The vouchers are not transferable but are retained if the company is acquired by another company and must be redeemed within 2 years.
Jul 2025: Complete Response Letters Published
See our CRL Dashboard analyzing all the CRLs released by the FDA Search, summarize and download CRLs with our custom GPT
Priority vouchers issued
PRVs issued by year
Voucher type issued
Vouchers issued <12m
No results from filter
Status: Redeemed - voucher was used by the original company the voucher was awarded to. Sold - voucher was sold onwards, vouchers may have been subsequently redeemed. Unknown - no public disclosure relating to this specific voucher. Unused - voucher not redeemed.
Commissioner’s National Priority Voucher (CNPV) tracker
There are no rows in this table
PRVs sold over time (USD)
Only publicly disclosed prices shown. 14 PRVs have been sold with no price disclosed. 4 PRVs were transferred/sold to another company following prior licensing agreement. Where an exact date is not disclosed, the data point is marked at the last quarter of the reported time period. E.g if a sale/acquisition occurred in 2019 but no specified date given, this has been attributed to 2019 Q4.
Priority vouchers redeemed
Vouchers redeemed by year
A priority review voucher was redeemed in Q4 2025 but it is currently unknown if this was redeemed for a new or supplementary application. This voucher is not accounted for in the chart above.
Redeemed by appl. type
A priority review voucher was redeemed in Q4 2025 but it is currently unknown if this was redeemed for a new or supplementary application. This voucher is not accounted for in the chart above.
CNPVs redeemed
Redeemed by disease area
A priority review voucher was redeemed in Q4 2025 but it is currently unknown which product/indication this was redeemed for. This voucher is not accounted for in the chart above.
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FDA Review Timelines
CNPV Recipients
Voucher Comparisons
Citation
Data on this page is free to use with attribution:
This webpage has been compiled from manually reviewing thousands of documents from the U.S. Securities and Exchange Commission (SEC), U.S. Food and Drug Administrations (FDA), Federal Register and press releases to give an overview of FDA Priority Review Vouchers (PRVs). The information on this page is from publicly available sources only and does not include any undisclosed PRV issuance's, transactions or redemptions.
Copyright © 2026 PRV Watch
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