Bill > S00398

This bill establishes a pilot program to control excessive and unconscionable prices for prescription drugs by setting a "referenced rate" based on the lowest drug prices in Canada. The bill prohibits state entities and health plans from purchasing these "referenced drugs" for more than the referenced rate, and also prohibits pharmacies from purchasing them for more than the referenced rate. The bill requires the identification of the five most costly prescription drugs, the calculation of the referenced rate for those drugs, and the reporting of any savings achieved through the program. The bill also prohibits manufacturers or distributors from withdrawing referenced drugs from sale or distribution in the state to avoid the program's impact, and imposes penalties for such actions.