Regulation of Trade in Drugs Act

Regulation of Trade in Drugs Act - Finds that the dispensing of drugs and devices or the receipt of fiduciary incentives by medical practitioners in connection with the supplying of such products to patients except under certain limited circumstances is inconsistent with the interests of public health, denies consumers free access to an open market, and induces unfair trade practices.

Makes it unlawful for a drug company to give or sell to a medical practitioner any legal or beneficial interest in the company or in the income thereof with the intent to induce such practitioner to prescribe the company's drugs to his patients. Makes such giving or selling of such interest without a public offering prima facie evidence of such intent or purpose.

Makes it unlawful for a medical practitioner to acquire or own a legal or beneficial interest in any drug company unless such acquisition is solely for investment. Makes a general public offering of such acquisition prima facie evidence that the acquisition is solely for investment.

Makes it unlawful for a medical practitioner to solicit or knowingly receive from a drug company, or for a drug company to pay or promise to pay to a medical practitioner, any rebate, refund, discount, commission or other valuable consideration based upon the company's sales at any place.

Declares it to be unlawful for a medical practitioner to dispense drugs or devices unless: (1) furnished in an emergency, (2) administered by a unit dose to a patient under the practitioner's supervision, (3) dispensed by a practitioner where there is no community pharmacy available to a patient, or (4) dispensed occasionally, but not as a usual course of doing business, by a medical practitioner.

Declares it to be unlawful for a medical practitioner to own direct or indirectly a legal beneficial, or lessor's interest in a community pharmacy.

Makes it unlawful for a medical practitioner to solicit or knowingly receive from a community pharmacy, or for a community pharmacy to pay or promise to pay to a medical practitioner, any rebate, refund, discount, commission or other valuable consideration based upon the commuity pharmacy's sales.

Prohibits the expenditure of Federal funds for drugs or devices dispensed in connection with the administration of any public or medical assistance program by any Federal or State agency, by a medical practitioner, pharmacy, or drug company under conditions prohibited by this Act.

Grants the U.S. Districts Courts jurisdiction over violations of this Act and emplowers the Attorney General and U.S. Attorneys to institute appropriate proceedings to prevent and restrain such violations. Provides that anyone damaged by any violation of this Act shall recover treble damages, and the cost of suit, including reasonable attorney's fees. Provides a three year statue of limitations running from the date on which the cause of action arose. Provides that this Act shall become effective one year after enactment.