Bill > S00488

This bill enacts the Manufacturer Disclosure and Transparency Act, which requires pharmaceutical manufacturers doing business in New York to notify the state Attorney General about patent settlement agreements that could delay the introduction of generic medications. Specifically, any pharmaceutical manufacturer entering into a patent settlement agreement that affects the commercial launch date of a drug must send the full text of the agreement to the Attorney General within 30 days of signing. The Attorney General is then required to post these notices on their website in a searchable format that allows the public to review details by drug, cost, disease, and manufacturer. The bill provides detailed definitions for key terms like "patent settlement agreement," "drug," and "pharmaceutical manufacturer," and establishes a penalty of $10,000 per day for failing to submit the required notice. The goal of the bill is to increase transparency around pharmaceutical practices that might prevent or delay generic drug competition, which could potentially keep drug prices higher for consumers. The bill will take effect 180 days after becoming law, and includes a severability clause to ensure that if any part of the act is found invalid, the rest of the law can still be enforced.

Budget and Finance, Business and Industry

https://www.nysenate.gov/legislation/bills/2025/S488