1. Short title This Act may be cited as the Rolling Active Pharmaceutical Ingredient and Drug Reserve Act or the RAPID Reserve Act . 2. Rolling active pharmaceutical ingredient and drug reserve (a) In general The Secretary of Health and Human Services (referred to in this section as the Secretary ) shall award contracts or cooperative agreements to eligible entities with respect to drugs and active pharmaceutical ingredients of such drugs that the Secretary determines to be critical and to have vulnerable supply chains. The Secretary shall publish the list of such drugs and active pharmaceutical ingredients of such drugs. (b) Requirements (1) In general An eligible entity, pursuant to a contract or cooperative agreement under subsection (a), shall agree to— (A) maintain, in a satisfactory domestic establishment registered under section 510(b) of the Federal Food, Drug, and Cosmetic Act ( 21 U.S.C. 360(b) ) or in a satisfactory foreign establishment registered under section 510(i) of such Act that is located in a country that is a member of the Organisation for Economic Cooperation and Development, which may be an establishment owned and operated by the entity, or by a wholesaler, distributor, or other third party under contract with the entity, a 6-month reserve, or other reasonable quantity, as determined by the Secretary, of— (i) the active pharmaceutical ingredient of the eligible drug specified in the contract or cooperative agreement, which reserve shall be regularly replenished with a recently manufactured supply of such ingredient; and (ii) the finished eligible drug product specified in the contract or cooperative agreement, which reserve shall be regularly replenished with a recently manufactured supply of such product; (B) implement production of the eligible drug or an active pharmaceutical ingredient of the eligible drug, at the direction of the Secretary, under the terms of, and in such quantities as specified in, the contract or cooperative agreement