S. 527

Prescription Pricing for the People Act of 2025 This bill requires the Federal Trade Commission (FTC) to report about anticompetitive practices and other trends within the pharmaceutical supply chain that may impact the cost of prescription drugs. The report must address whether pharmacy benefit managers (PBMs) (1) reimburse pharmacies owned by the PBM at a higher price than other pharmacies, and (2) implement formulary designs to increase the market share of higher-cost prescription drugs or depress the market share of lower-cost prescription drugs. The FTC also must provide recommendations to increase transparency in the supply chain, prevent anticompetitive practices, and ensure that consumers benefit from cost savings or efficiencies that result from mergers and consolidations. Additionally, the FTC must report the number and nature of complaints the FTC receives relating to an allegation of anticompetitive conduct by a manufacturer of a sole-source drug.