Pharmaceutical Research Transparency Act of 2023

This bill requires pharmaceutical companies to publicly disclose detailed cost information for clinical drug trials and to break down research and development expenditures by research stage in their annual financial reports. It creates a government website where sponsors must post cost data (including total cost, per-patient cost, and category breakdowns like personnel and materials) within one year of trial completion. Drug manufacturers must disclose R&D spending across different stages of drug development, from basic research to post-market studies, in their SEC filings. The requirements apply only to clinical trials beginning after the bill's enactment date and to drug manufacturers that file annual reports with the Securities and Exchange Commission. This aims to increase transparency around the financial aspects of drug development and clinical research.