The bill extends exclusivity periods for covered orphan drugs by 180 days to mitigate the impact of the COVID-19 pandemic on drug development incentives. It defines terms such as "covered orphan drug," "corresponding patent-related approval delay period," "orphan drug," "COVID–19 emergency period," and "rare disease or condition." These extensions apply to drugs for rare diseases or conditions approved during the COVID-19 emergency period and aim to support drug development during this time. The bill will come into effect upon enactment, regardless of the issuance of implementing guidance or regulations by the Secretary.