Requires the Federal Trade Commission to study pharmacy benefit managers and other middlemen in the prescription drug supply chain and report its findings and policy recommendations to the Senate and House Judiciary Committees within one year.

• Requires an interim FTC report within 180 days on progress and preliminary findings.
• Directs the main report to examine whether pharmacy benefit managers charge payers more than they reimburse pharmacies, steer patients to pharmacies they own, use data from unaffiliated pharmacies for competitive advantage, or use formularies to favor higher-cost drugs.
• Asks the FTC to identify legal or regulatory obstacles to enforcing antitrust and consumer protection laws in the drug supply chain and to recommend ways to improve transparency and competition.
• Requires a separate FTC report on complaints about anticompetitive conduct by manufacturers of sole-source drugs and on the agency's ability to bring enforcement actions against them.

• Judiciary Committee (Senate)

Commerce