Counterfeit Drug Penalty Enhancement Act of 2011 - Amends the federal criminal code to establish criminal penalties of a fine, imprisonment for not more than 20 years, or both for trafficking, or attempting to traffic, in counterfeit drugs. Doubles the potential fine for repeat offenders.
Directs the United States Sentencing Commission to review and, if appropriate, amend its guidelines and policy statements applicable to persons convicted of that offense to reflect congressional intent that such penalties be increased.