Bill > S732

This bill aims to promote comprehensive transparency in the pharmaceutical industry. It does this by: 1) Defining key terms like "early notice", "pharmaceutical manufacturing company", "pharmacy benefit manager", "pipeline drugs", and "sponsor". 2) Expanding the entities required to provide information to the Health Policy Commission, including pharmacy benefit managers and pharmaceutical manufacturing companies. 3) Requiring pharmaceutical manufacturing companies and pharmacy benefit managers to pay fees to cover the Commission's costs in analyzing spending trends. 4) Mandating that the Commission receive testimony from pharmaceutical manufacturing companies and pharmacy benefit managers on factors underlying prescription drug costs and price increases. 5) Authorizing the Commission to require pharmaceutical manufacturers to disclose information on drug pricing, including research and development costs, and to identify proposed supplemental rebates. 6) Requiring pharmaceutical manufacturers to provide "early notice" to the state on new drugs, generic drugs, and biosimilars in development that may impact state healthcare spending. 7) Expanding the Attorney General's authority to monitor healthcare market trends, including prescription drug cost and price trends. 8) Requiring pharmacy benefit managers to report on rebates, fees, and payments received from pharmaceutical manufacturers. The overall goal is to increase transparency and oversight of pharmaceutical companies and pharmacy benefit managers in an effort to better understand and manage rising prescription drug costs.

Health and Social Services

https://malegislature.gov/Bills/193/S732