Pharmaceutical Investment Oversight and Accountability Act

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 4987 Introduced in Senate (IS)]

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119th CONGRESS
  2d Session
                                S. 4987

 To require the Federal Trade Commission to submit a report on foreign
investment in the pharmaceutical industry of the United States, and for
                            other purposes.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                             July 15, 2026

  Ms. Warren (for herself, Mr. Scott of Florida, and Mrs. Gillibrand)
introduced the following bill; which was read twice and referred to the
            Committee on Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL

 To require the Federal Trade Commission to submit a report on foreign
investment in the pharmaceutical industry of the United States, and for
                            other purposes.

    Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Pharmaceutical Investment Oversight
and Accountability Act''.

SEC. 2. OVERSIGHT OF FOREIGN PHARMACEUTICAL INVESTMENT.

    (a) In General.--Not later than 1 year after the date of the
enactment of this Act, and annually thereafter, the Federal Trade
Commission, in consultation with the Secretary of the Treasury acting
through the Committee on Foreign Investment in the United States
(referred to in this section as the ``Committee''), shall submit to the
appropriate congressional committees, the Secretary of Health and Human
Services, and the Commissioner of Food and Drugs, a report on foreign
investment in the pharmaceutical industry of the United States.
    (b) Elements.--The report required by subsection (a) shall include
the following:
            (1) An assessment of--
                    (A) the supply chain of the pharmaceutical industry
                of the United States and the effect of concentration
                and reliance on foreign manufacturing within that
                industry;
                    (B) the effect of foreign investment in the
                pharmaceutical industry of the United States on
                domestic capacity to produce drugs (as defined in
                section 201(g) of the Federal Food, Drug, and Cosmetic
                Act (21 U.S.C. 321(g))) and active and inactive
                ingredients of drugs; and
                    (C) the effect of foreign investment in
                technologies or other products for sequencing or
                storage of DNA, including genome and exome analysis, in
                the United States, including the effect of such
                investment on the capacity to sequence or store DNA in
                the United States.
            (2) The number of reviews and investigations conducted by
        the Committee, in each of the 10 fiscal years preceding the
        year in which the study is conducted, with respect to covered
        transactions (as defined in section 721(a) of the Defense
        Production Act of 1950 (50 U.S.C. 4565(a)))--
                    (A) in pharmaceutical and medicine manufacturing in
                the United States; or
                    (B) relating to the sequencing or storage of DNA in
                the United States.
            (3) A short description of each such review or
        investigation, including whether the transaction was approved
        or prohibited and any approvals subject to mitigation
        agreements.
    (c) Authority.--The Federal Trade Commission shall have authority
under section 6 of the Federal Trade Commission Act (15 U.S.C. 46) to
conduct the studies required to prepare the report required by
subsection (a).
    (d) Publication.--The Federal Trade Commission shall publish an
unclassified summary of the report required by subsection (a) on a
publicly available internet website of the Commission.
    (e) Appropriate Congressional Committees Defined.--In this section,
the term ``appropriate congressional committees'' means--
            (1) the Committee on Banking, Housing, and Urban Affairs,
        the Committee on Health, Education, Labor, and Pensions, the
        Committee on Armed Services, the Committee on Foreign
        Relations, the Committee on Commerce, Science, and
        Transportation, and the Committee on Appropriations of the
        Senate; and
            (2) the Committee on Financial Services, the Committee on
        Energy and Commerce, the Committee on Armed Services, the
        Committee on Foreign Affairs, and the Committee on
        Appropriations of the House of Representatives.
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