Pharmaceutical Risk Assessment and Mitigation Act of 2024

This bill requires the Department of Defense (DoD) to assess risks in its pharmaceutical supply chains by submitting a detailed report within two years of enactment. The report must analyze reliance on high-risk foreign suppliers for key materials like excipients and active ingredients, identify data access limitations, and propose solutions to monitor vulnerabilities. It also mandates updating existing DoD risk management guidance using findings from this report and requires the DoD to follow FDA determinations on critical supply chain materials. The bill directly affects DoD procurement and supply chain operations, aiming to strengthen oversight of pharmaceutical sourcing without creating new regulations.