Prescription Pricing for the People Act of 2023

This bill directs the Federal Trade Commission (FTC) to study and report on practices in the pharmaceutical supply chain, focusing on pharmacy benefit managers (PBMs) and their impact on drug pricing. The FTC must submit an interim report within 180 days and a full report within one year, examining issues like whether PBMs steer patients to pharmacies they own, use proprietary data for competitive advantage, or design formularies to favor higher-cost drugs. The reports will also assess competition in the supply chain, legal barriers to enforcement, and the FTC’s ability to address anticompetitive behavior by drug manufacturers. The goal is to identify transparency gaps and recommend policy changes to improve competition and ensure consumers benefit from cost savings.