Bill > SF3294

This bill modifies provisions related to prescription drug transparency in Minnesota, focusing on reporting requirements for various entities involved in the drug supply chain. The bill amends existing statutes to expand and clarify reporting obligations for 340B covered entities, manufacturers, pharmacies, pharmacy benefit managers (PBMs), and wholesale drug distributors. Key changes include requiring more detailed reporting on drug prices, costs, rebates, and sales for prescription drugs that meet certain thresholds, with a focus on drugs of substantial public interest. The bill requires these entities to submit comprehensive information about specific drugs, such as acquisition costs, sales revenue, rebates, units sold, and pricing details, to the commissioner of health by specified deadlines. For 340B covered entities, the reporting now includes more nuanced data on payment amounts and types. The bill also adjusts the public posting requirements for drug price information, ensuring that sensitive or confidential data is protected while providing greater transparency about prescription drug pricing. Additionally, the bill delays the registration requirement for reporting entities from January 1, 2024, to January 1, 2026, giving entities more time to prepare for these expanded reporting obligations. The overall aim is to provide policymakers and the public with more comprehensive and detailed information about prescription drug pricing and market dynamics.

Health and Social Services

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF3294&ssn=0&y=2025