SB 404

Abstract

Requires State Board of Pharmacy to study prescription drugs. Directs board to submit findings to interim committees of Legislative Assembly related to health care not later than September 15, 2024.] Requires pharmacy benefit managers and group purchasing organizations to annually report to Department of Consumer and Business Services information relating to prices, rebates, fees and similar information. Requires Prescription Drug Affordability Board to develop plan for establishing upper payment limits on certain drugs and to conduct specified analyses regarding establishing upper payment limits. Requires prescription drug manufacturers to separately report to department price and other information regarding certain prescription drugs each calendar year. Increases and modifies membership of board. Requires department to report to board list of drugs that increased in price and were required to be reported to department. Modifies fees paid to department by prescription drug manufacturers. Requires insurers to separately report annually to department specified information regarding prescription drugs covered by insurers. Takes effect on 91st day following adjournment sine die.