Bill > H1092

This bill introduces comprehensive measures to increase transparency and accountability in prescription drug pricing in Massachusetts. It establishes new requirements for pharmaceutical manufacturers to disclose detailed pricing information to the state's Health Policy Commission, including wholesale acquisition cost increases, research and development expenses, and factors contributing to price changes. The bill empowers the commission to review drug pricing, determine whether prices are reasonable, and recommend measures to reduce costs, such as alternative purchasing plans, bulk purchasing programs, or changes to cost-sharing requirements. If a manufacturer fails to comply with information requests or provides misleading information, they could face civil penalties up to $500,000. The bill also expands the Attorney General's authority to monitor healthcare market trends, including prescription drug costs, and requires the Center for Health Information and Analysis to annually refer drugs for review based on specific criteria like high annual costs or insufficient biosimilar pricing. Additionally, the legislation mandates that insurance carriers conduct annual audits of pharmacy benefit managers and requires these managers to be licensed, aiming to increase oversight and potentially lower prescription medication costs for patients.

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https://malegislature.gov/Bills/194/H1092