Medicare Modernization Improvement Act of 2004

[AI summary unavailable — showing source text] Medicare Modernization Improvement Act of 2004 - Amends title XVIII (Medicare) of the Social Security Act (SSA) to revise provisions added by the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 that prohibit the Secretary of Health and Human Services from interfering with the negotiations between drug manufacturers and pharmacies and prescription drug plan sponsors. Gives the Secretary the authority to negotiate contracts with manufacturers of covered Medicare part D (Voluntary Prescription Drug Benefit Program) drugs as necessary to reduce prices and protect access to needed drugs, in order to ensure that beneficiaries enrolled under prescription drug plans and Medicare Advantage (MA) plans pay the lowest possible price. Amends the Federal Food, Drug, and Cosmetic Act to repeal the condition on the permission to pharmacists and wholesalers to import prescription drugs from Canada into the United States that the Secretary first demonstrate to Congress the safety of such products and the financial benefit to consumers of permitting their importation. (Thus allows the importation of such drugs to proceed without fulfillment of prerequisites.) Repeals terminatio…