Prescription Drug Price Fairness Act

Prescription Drug Price Fairness Act - Amends part D (Voluntary Prescription Drug Benefit Program) of title XVIII (Medicare) of the Social Security Act to: (1) grant the Secretary of Health and Human Services authority similar to that of the Secretary of Veterans Affairs to negotiate the lowest possible prices for outpatient prescription drugs; (2) include prices charged for covered outpatient drugs to certain Federal agencies in the determination of best price for such drugs under the Medicaid program; and (3) allow States, in entering into rebate agreements with manufacturers, to form pools to negotiate price concessions from the manufacturers for covered outpatient drugs.