Counterfeit Drug Penalty Enhancement Act of 2012 - Amends the federal criminal code to prohibit and to establish criminal penalties for trafficking, or attempting to traffic, in counterfeit drugs.
Directs: (1) the Attorney General to give increased priority to efforts to investigate and prosecute offenses that involve trafficking in counterfeit drugs; and (2) the United States Sentencing Commission to review and, if appropriate, amend its guidelines and policy statements applicable to persons convicted of such offense to reflect congressional intent that penalties be increased to reflect the serious nature of such offense and the need for an effective deterrent and to account for the resulting harm to the public.