Bill > A09086

This bill aims to establish a pilot program to control excessive and unconscionable prices for prescription drugs in New York. The key provisions include: 1. Prohibiting state entities and health plans from purchasing referenced drugs (i.e., the most costly prescription drugs identified by the program) for more than the "referenced rate," which is the lowest cost among the wholesale acquisition cost and prices in certain Canadian provinces. 2. Prohibiting pharmacies from purchasing referenced drugs for more than the referenced rate to sell to individuals covered by state entities or health plans. 3. Requiring the state to calculate the savings generated from this program and use them to reduce costs for consumers. 4. Penalizing manufacturers or distributors that withdraw a referenced drug from sale or distribution in the state to avoid the impact of the program, or fail to negotiate in good faith with payers to reach the referenced rate. The bill aims to address the high cost of prescription drugs in New York by aligning prices with those in Canada, which generally have lower drug prices.