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This bill requires the Federal Trade Commission to investigate and report on foreign investment in the U.S. pharmaceutical industry, with the first report due within one year of enactment and annually thereafter. The report must assess how foreign investment affects domestic drug manufacturing capacity, supply chain concentration, and reliance on foreign-made ingredients, as well as evaluate foreign investment in DNA sequencing and storage technologies. The legislation also directs the FTC to document all reviews and investigations conducted by the Committee on Foreign Investment in the United States over the previous ten years related to pharmaceutical transactions and DNA sequencing activities, including whether deals were approved, prohibited, or approved with conditions. The FTC will publish a public summary of each report on its website, and must share full reports with Congress, the Treasury Department, and the Health and Human Services Department. No specific funding amount is mentioned in the bill.

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