Drug Quality Control and Formulary Act

Drug Quality Control and Formulary Act - Establishes, within the Department of Health, Education, and Welfare, a formulary committee, a majority of whose members shall be physicians and which shall consist of two officials of such department designated by the Secretary, and of seven individuals who are of recognized professional standing and distinction in the fields of medicine, pharmacology and pharmacy. Sets forth the terms of office of the members of such committee.

Directs the Committee to compile, publish, and make available to all interested persons a formulary of the United States. States that the formulary shall contain an alphabetically arranged listing, by established name, of those drugs which the committee finds are necessary for good medical practice.

Requires the formulary committee to establish such procedures as may be necessary to determine the propriety of the inclusion or exclusion, in the formulary, of any drug, including such data and testing as it may require of a proponent of a drug. Makes provisions for a hearing prior to the final determination by the formulary committee to remove a drug from the formulary.

Declares that no department of agency of the Government shall purchase any drug not listed in the formulary and shall not reimburse or otherwise pay, under any program administered by it, for any drug listed in the formulary.