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Prescription Pricing for the People Act of 2023

Source: Congress.gov  ·  2,028 words in original text
This bill requires the Federal Trade Commission to study how middlemen companies work in the prescription drug supply chain and report back to Congress. The bill asks the Federal Trade Commission to look at whether these middlemen are competing fairly and to suggest changes to laws or policies to help consumers pay less for prescriptions. ##
The Federal Trade Commission must conduct and complete the study. Congress receives the study findings. The bill does not explicitly state other directly affected parties. ##
• The Federal Trade Commission must submit a full report within one year of the law passing that examines whether pharmacy benefit managers (companies that process prescription drug claims) charge different prices to insurance companies than they pay to pharmacies they own versus pharmacies they don't own (Sec. 3(a)(1)(A)(i)). • The report must examine whether pharmacy benefit managers steer patients to pharmacies they own for competitive advantage and whether they use confidential pharmacy data to increase their own business advantage (Sec. 3(a)(1)(A)(ii) and (iii)). • The report must look at how these middlemen companies are combining with each other and whether this affects fair competition in the prescription drug market (Sec. 3(a)(1)(B)). • The Federal Trade Commission must include policy and legislative recommendations to improve transparency, prevent unfair competition, and ensure consumers benefit from any savings created by business combinations (Sec. 3(a)(2)(C)). • The Federal Trade Commission must submit a progress report within 180 days of the law passing with early findings (Sec. 3(b)). • The Federal Trade Commission must submit a separate report on complaints it receives about drug manufacturers who make drugs with no competitors and whether the agency can take enforcement action against them (Sec. 4). ##
If this becomes law, the Federal Trade Commission must perform a comprehensive study of middlemen companies in the prescription drug supply chain and provide Congress with written findings and recommendations. The agency must also report on enforcement actions it can take against companies that behave unfairly in the drug market. ##
"Commission" means the Federal Trade Commission (the government agency responsible for protecting competition and consumers). "Appropriate committees of Congress" means the Judiciary Committee of the Senate and the Judiciary Committee of the House of Representatives. ##
Important: This plain English summary was generated by AI and is provided for informational purposes only. It is not legal advice. Always consult the official bill text on Congress.gov or a qualified attorney for legal matters.