This legislation requires the Federal Trade Commission (FTC) to conduct an annual assessment of foreign investment within the United States' pharmaceutical sector. The FTC, in collaboration with the Department of the Treasury's Committee on Foreign Investment in the United States (CFIUS), must submit this comprehensive report to various congressional committees, the Secretary of Health and Human Services, and the Commissioner of Food and Drugs. The report's key elements include an evaluation of the pharmaceutical supply chain's concentration and reliance on foreign manufacturing, alongside the effects of foreign investment on domestic capacity to produce drugs and their ingredients. It also mandates an assessment of foreign investment in DNA sequencing and storage technologies and their impact on U.S. capacity. Additionally, the FTC must detail the number and nature of CFIUS reviews and investigations over the past decade concerning pharmaceutical manufacturing and DNA-related transactions, including their outcomes and any mitigation agreements. An unclassified summary of this report will be made publicly available on the FTC's website, providing transparency regarding foreign influence in critical health-related industries.