Bill > S712

This bill aims to promote transparency and prevent price gouging of pharmaceutical drug prices. Key provisions include: 1. Defining "pharmaceutical manufacturing company" and "pharmacy benefit manager" for the purposes of the legislation. 2. Requiring pharmaceutical manufacturing companies to provide early notice to the Health Policy Commission about new pipeline drugs, generic drugs, and biosimilar products that may have a significant impact on healthcare spending in the state. 3. Authorizing the Attorney General to monitor healthcare market trends, including prescription drug cost trends, and obtain information from various entities to investigate potential unfair methods of competition or anticompetitive behavior. 4. Requiring the Center for Health Information and Analysis to promulgate regulations to ensure the uniform analysis of information from pharmaceutical manufacturing companies and pharmacy benefit managers, such as changes in wholesale acquisition costs, research and development costs, marketing and advertising expenses, and drug rebates and other price reductions. 5. Establishing penalties for failure to report required information to the Center, with the fines deposited into the Healthcare Payment Reform Fund.