Bill > S771

This bill proposes a series of measures to improve pharmaceutical access, costs, and transparency in Massachusetts. Key provisions include: - Defining key terms related to pharmaceuticals, such as "biosimilar," "brand name drug," "generic drug," "pharmaceutical manufacturing company," and "pharmacy benefit manager." - Requiring pharmaceutical manufacturing companies to provide early notice to the Health Policy Commission about new drug developments and significant price increases. - Establishing a process for the Health Policy Commission to review "eligible drugs" with high costs and work with manufacturers on access improvement plans. - Creating a Prescription Drug Cost Assistance Trust Fund to provide financial assistance to residents for certain high-cost prescription drugs. - Assessing a tax on pharmaceutical manufacturers based on their prescription drug sales in the state, with the revenue going to the Prescription Drug Cost Assistance Trust Fund. - Requiring pharmacies to disclose the current retail price and applicable cost-sharing amount for prescriptions to consumers. - Establishing a prescription drug cost assistance program within the Department of Public Health. - Requiring pharmacy benefit managers to be licensed and regulated by the Division of Insurance. The bill also includes several reporting requirements, stakeholder engagement processes, and other provisions aimed at increasing transparency and oversight of pharmaceutical pricing and access issues in the state.

Budget and Finance, Health and Social Services

https://malegislature.gov/Bills/192/S771