Bill > SB1532

This bill amends the Arizona Revised Statutes by adding a new chapter 42 on "Prescription Drugs." The key provisions of the bill are: 1. It defines important terms, including "maximum fair price" (which is the maximum price set by the U.S. Secretary of Health and Human Services for certain drugs) and "price applicability period" (the period during which the maximum fair price applies). 2. It prohibits any person or entity in Arizona from paying more than the maximum fair price for a "referenced drug" (a drug subject to the maximum fair price) or seeking reimbursement above that price, excluding any pharmacy dispensing fees. 3. Violations of these pricing limits are considered unlawful practices under Arizona's consumer fraud laws, enforceable by the state Attorney General. Individuals can also bring private actions for consumer fraud against violators.