Fair prices for prescription drugs required

(a) Prohibition Section 301 of the Federal Food, Drug, and Cosmetic Act is amended by adding at the end the following: (jjj) Selling, or offering for sale, a drug (or biological product) at a price that exceeds the fair price published under section 3 of the Regulate the Price of All Drugs Act.. (b) Enforcement by Federal Trade Commission (1) Unfair or deceptive acts or practices A violation of section 301(jjj) of the Federal Food, Drug, and Cosmetic Act or a regulation promulgated under such subsection shall be treated as a violation of a regulation under section 18(a)(1)(B) of the Federal Trade Commission Act (15 U.S.C. 57a(a)(1)(B)) regarding unfair or deceptive acts or practices. (2) Powers of Commission The Federal Trade Commission shall enforce subsection (jjj) of such section 301 and any regulation promulgated under such subsection in the same manner, by the same means, and with the same jurisdiction, powers, and duties as though all applicable terms and provisions of the Federal Trade Commission Act (15 U.S.C. 41 et seq.) were incorporated into and made a part of this section. Any person who violates such subsection or a regulation promulgated under such subsection shall be subject to the penalties and entitled to the privileges and immunities provided in the Federal Trade Commission Act. (c) Actions by States (1) In general In any case in which the attorney general of a State, or an official or agency of a State, has reason to believe that an interest of the residents of such State has been or is threatened or adversely affected by an act or practice in violation of subsection (jjj) of such section 301 or a regulation promulgated under such subsection, the State, as parens patriae, may bring a civil action on behalf of the residents of the State in an appropriate district court of the United States to— (A) enjoin such act or practice; (B) enforce compliance with such subsection or such regulation; (C) obtain damages, restitution, or other compensation on behalf of residents of the State; or (D) obtain such other legal and equitable relief as the court may consider to be appropriate. (2) Notice Before filing an action under this subsection, the attorney general, official, or agency of the State involved shall provide to the Federal Trade Commission a written notice of such action and a copy of the complaint for such action. If the attorney general, official, or agency determines that it is not feasible to provide the notice described in this paragraph before the filing of the action, the attorney general, official, or agency shall provide written notice of the action and a copy of the complaint to the Federal Trade Commission immediately upon the filing of the action. (3) Authority of Federal Trade Commission (A) In general On receiving notice under paragraph (2) of an action under this subsection, the Federal Trade Commission shall have the right— (i) to intervene in the action; (ii) upon so intervening, to be heard on all matters arising therein; and (iii) to file petitions for appeal. (B) Limitation on State action while Federal action is pending If the Federal Trade Commission or the Attorney General of the United States has instituted a civil action for violation of subsection (jjj) of such section 301 or a regulation promulgated under such subsection (referred to in this subparagraph as the Federal action), no State attorney general, official, or agency may bring an action under this subsection during the pendency of the Federal action against any defendant named in the complaint in the Federal action for any violation of such subsection or regulation alleged in such complaint. (4) Rule of construction For purposes of bringing a civil action under this subsection, nothing in this Act shall be construed to prevent an attorney general, official, or agency of a State from exercising the powers conferred on the attorney general, official, or agency by the laws of such State to conduct investigations, administer oaths and affirmations, or compel the attendance of witnesses or the production of documentary and other evidence. (d) Private right of action (1) In general A person injured by an act or practice in violation of subsection (jjj) of such section 301 or a regulation promulgated under such subsection may bring in an appropriate district court of the United States— (A) an action to enjoin the violation; (B) an action to recover three times the amount of damages for actual monetary loss from the violation, or to receive up to $50,000 in damages for each such violation, whichever is greater; or (C) both such actions. (2) Willful or knowing violations If the court finds that the defendant acted willfully or knowingly in committing a violation described in paragraph (1), the court may, in its discretion, increase the amount of the award to an amount equal to not more than 3 times the amount available under paragraph (1)(B). (3) Costs and attorney’s fees The court shall award to a prevailing plaintiff in an action under this subsection the costs of such action and reasonable attorney’s fees, as determined by the court. (4) Limitation An action may be commenced under this subsection not later than 5 years after the date on which the person first discovered or had a reasonable opportunity to discover the violation. (5) Nonexclusive remedy The remedy provided by this subsection shall be in addition to any other remedies available to the person.