This bill establishes a federal demonstration project requiring the Department of Health and Human Services to commission independent value assessments for prescription drugs. For newly approved drugs, an independent assessment must be completed within 90 days of FDA approval, while for previously approved drugs, the department must assess at least five drugs per year through 2028, prioritizing the most expensive medications. These assessments will be conducted by nonprofits, universities, or federally funded research centers that have no financial ties to drug manufacturers, pharmaceutical benefit managers, or health insurers, and will analyze drug benefits, compare treatments, and propose fair pricing ranges based on economic value. The assessments will specifically prohibit using certain controversial valuation methods like quality-adjusted life years and will solicit input from patients, doctors, and the public before publication. All completed assessments will be published on the HHS website for public access to inform discussions about drug pricing.