Prescription Pricing for the People Act of 2025

This legislation mandates the Federal Trade Commission (FTC) to undertake a comprehensive study of intermediaries within the pharmaceutical supply chain, including pharmacy benefit managers (PBMs). The FTC is required to submit an interim report within 180 days and a final report to Congress within one year, detailing its findings and policy recommendations. The study will specifically investigate PBM practices, such as charging payers more than they reimburse pharmacies, patient steering, and using proprietary data or formulary designs for competitive advantage. It will also examine the overall state of competition, the integration of intermediaries, and how companies assess the costs and benefits of contracting with these entities. Additionally, the FTC must identify any legal or regulatory obstacles hindering its enforcement of antitrust and consumer protection laws, or contributing to high prescription drug prices. Based on its findings, the Commission must provide Congress with specific policy and legislative recommendations to improve transparency, enhance competition, and deter anticompetitive behavior, ensuring consumers benefit from cost savings. The FTC is also tasked with reporting on complaints regarding anticompetitive conduct by sole-source drug manufacturers and its ability to take enforcement actions, along with recommendations to strengthen enforcement.