Bill
Bill > S08901
NY S08901
NY S08901Relates to reducing the cost of prescription drugs by establishing maximum wholesale drug prices that are the same as the prices in Canada.
summary
Introduced
04/27/2022
04/27/2022
In Committee
05/17/2022
05/17/2022
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
2021-2022 General Assembly
Bill Summary
Relates to reducing the cost of prescription drugs by establishing maximum wholesale drug prices that are the same as the prices in Canada.
AI Summary
This bill establishes a pilot program to control excessive and unconscionable prices for prescription drugs by setting a "referenced rate" based on the lowest prices in Canada. The bill prohibits state entities and health plans from paying more than the referenced rate, and prohibits pharmacies from purchasing referenced drugs for more than the referenced rate. The bill requires the superintendent to determine the referenced rate, calculate expected savings, and report on the program's results. The bill also imposes penalties on manufacturers or distributors who withdraw referenced drugs from sale or fail to negotiate in good faith to sell at the referenced rate.
Committee Categories
Budget and Finance, Business and Industry
Sponsors (2)
Last Action
REPORTED AND COMMITTED TO RULES (on 05/17/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.nysenate.gov/legislation/bills/2021/S8901 | 04/28/2022 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=S08901&term=2021&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S08901 | 04/28/2022 |
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