Bill > HB06870

This bill addresses patients' prescription drug costs through two main strategies: establishing a Canadian prescription drug importation program and implementing price controls on certain prescription drugs. For the importation program, the bill requires the Commissioner of Consumer Protection to first study the feasibility of importing prescription drugs from Canada, with a report due by October 1, 2027. If the program is deemed feasible and receives federal FDA approval, participating wholesalers can import specific categories of prescription drugs from Canadian suppliers, subject to strict safety, testing, and tracking requirements. Drugs that cannot be imported include controlled substances, biological products, infused drugs, and certain other specialized medications. The bill also establishes a mechanism to penalize pharmaceutical manufacturers and wholesale distributors who sell identified prescription drugs at prices exceeding a reference price, with civil penalties calculated based on the revenue difference. Additionally, the bill requires health insurance carriers to provide credit to insureds for out-of-pocket prescription drug expenses when those expenses are lower than in-network rates. The overall goal is to reduce prescription drug costs for patients in the state by introducing competition through international importation and creating financial disincentives for excessive drug pricing.