Prescription Drug Labeling Act

Prescription Drug Labeling Act - Amends the Federal Food, Drug, and Cosmetic Act to require that in the labeling and advertising of drugs sold by prescription the established name of such drug must appear each time the drug's proprietary name is used.

Permits a pharmacist to fill or refill a prescription for a drug identified by its proprietary name with any substitute drug if: (1) the practitioner does not specify in the prescription (in the case of a written prescription) or in transmitting the prescription to the pharmacist (in the case of an oral prescription) that the prescription is to be filled or refilled with only the drug so identified; and (2) the cost of the substitute drug to the patient for whom the prescription is made less than the cost to him of the drug so identified, and any other substitute drug.

Directs that if a drug to be dispensed pursuant to a prescription of a practitioner licensed by law to administer the drug is identified in the prescription by its established name, any pharmacist who fills or refills the prescription shall fill or refill it with the substitute drug whose cost to the patient for whom the prescription is made is less than the cost to him of any other substitute drug, except that this provision shall not apply if the practitioner specifies in the prescription (in the case of a written prescription) or in transmitting the prescription to the pharmacist (in the case of an oral prescription) that the prescription is to be filled or refilled with another drug.