This Act may be cited as the American Pharmaceutical Security Act.

(a) In general Not later than 1 year after the date of enactment of this Act, the Administrator of the Centers for Medicare & Medicaid Services (referred to in this section as the Administrator) shall submit to Congress a report on its findings and policy recommendations regarding the use of coverage and reimbursement authorities to protect the markets of the United States and its allies for active pharmaceutical ingredients and key starting materials and reduce direct and indirect dependence on foreign adversaries (as described in section 791.4 of title 15, Code of Federal Regulations (or any successor regulations)) for such ingredients and materials. (b) Contents The report under subsection (a)— (1) may include— (A) recommendations for price floor commitments in support of domestic manufacturing of active pharmaceutical ingredients and key starting materials to protect investments in the domestic markets of such ingredients and materials against nonmarket practices and price manipulation; and (B) recommendations that would prioritize domestically manufactured active pharmaceutical ingredients and key starting materials over foreign manufactured active pharmaceutical ingredients and key starting materials when a domestic source for the applicable ingredient or material exists; and (2) shall identify any existing gaps in data and information related to the origin and ownership of active pharmaceutical ingredients and key starting materials that the Administrator would need to implement the recommendations included in the report.