Bill > HB5937

This bill, known as the "Drug Manufacturer Data Reporting Act," requires drug manufacturers to annually report various financial information to the Department of Insurance and Financial Services, including the aggregate wholesale acquisition cost of prescription drugs, rebates and fees paid to pharmacy benefit managers, research and development costs, and marketing and advertising costs. The bill also requires manufacturers to notify the department within 30 days of a significant increase in the wholesale acquisition cost of certain prescription drugs, and to provide additional information on new high-cost drugs introduced to the market. The department is required to prepare an annual report based on the information received, which will be submitted to the legislature. The bill authorizes the department to promulgate rules and imposes civil fines for non-compliance.