Bill > S2499

This bill aims to improve pharmaceutical access, costs, and transparency in the state of Massachusetts. Key provisions include: - Defining key terms like "biosimilar," "brand name drug," "generic drug," "pharmacy benefit manager," and others to provide clarity. - Requiring pharmaceutical manufacturers to provide early notice to the state's Health Policy Commission about new drug launches, significant price increases, and other information to improve transparency. - Authorizing the Health Policy Commission to review the pricing of certain high-cost drugs, determine if the pricing is excessive, and require the manufacturer to develop an "access and affordability improvement plan" to make the drug more accessible and affordable. - Establishing a Prescription Drug Cost Assistance Trust Fund to provide financial assistance to residents for the cost of certain prescription drugs. - Requiring health plans to cover certain generic and brand-name drugs for chronic conditions like diabetes, asthma, and heart disease with little or no cost-sharing for members. - Establishing a specialty pharmacy licensing requirement and other regulations. - Making various other changes to increase oversight and regulation of pharmacy benefit managers and pharmaceutical manufacturer pricing and practices. The goal of this bill is to make prescription drugs more accessible and affordable for residents, while increasing transparency and accountability among pharmaceutical companies, pharmacy benefit managers, and health plans.

Joint Committee on Health Care Financing (Joint), Senate Committee on Ways and Means (Senate)

https://malegislature.gov/Bills/193/S2499