Prescription Drug Consumer Information Act of 2003

Prescription Drug Consumer Information Act of 2003 - Amends the Public Health Service Act with regard to certain contracts involving pharmacy benefit managers (PBM's). Sets forth certain requirements a PBM must meet for a group health plan, and a health insurance issuer providing health insurance coverage in connection with a group health plan (health insurance issuer), to enter into a contract with the PBM to manage the prescription drug coverage provided under such plan or coverage or to control the costs of such prescription drug coverage. Includes among such requirements that the PBM not be owned by a pharmaceutical manufacturing company and that the PBM shall agree to pass along any cost savings negotiated with a pharmacy to the group health plan or the health insurance issuer.

Amends the Act to apply the provisions of this Act regarding contracts with a PBM to health insurance coverage offered by a health insurance issuer in the individual market in the same manner as they apply to a group health plan and a health insurance issuer providing health insurance coverage.

Amends the Employee Retirement Income Security Act of 1974 to apply the provisions of this Act regarding contracts with a PBM to a group health plan and a health insurance issuer in the same manner as such provisions apply to a group health plan and a health insurance issuer providing health insurance coverage.

Directs the Secretary of Health and Human Services to promulgate regulations requiring a pharmacy to disclose the retail cost of a prescription drug upon request by a consumer.