Making Pharmaceutical Markets More Competitive Act This bill amends the Federal Food, Drug, and Cosmetic Act to require the Food and Drug Administration (FDA) to prioritize the review of generic drug applications and supplements with respect to drugs that are in a shortage or for which there are not more than three approved drugs. The holder of an approved drug application must notify the FDA within 180 days of withdrawing or transferring the application or withdrawing the drug from sale. The FDA must maintain a list of generic drugs with three or fewer holders of approved applications.