Bill > H4489

This bill introduces a comprehensive approach 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 defines a "biosimilar" drug and creates a process where the commission can review drug pricing, request additional information from manufacturers, and issue public recommendations to reduce drug costs if pricing is deemed unreasonable. The legislation also empowers the Attorney General to monitor healthcare market trends and prescription drug costs, and requires the Center for Health Information and Analysis to annually refer high-cost drugs for review. Additionally, the bill mandates that carriers audit their pharmacy benefit managers (PBMs) at least annually and require PBMs to be licensed, aiming to increase transparency and potentially reduce prescription drug expenses. Penalties for non-compliance can include substantial fines up to $500,000 for manufacturers and $2,000 per week for delayed reporting, with collected funds directed to the Healthcare Payment Reform Fund. The bill's ultimate goal is to make prescription medications more affordable and provide greater oversight of drug pricing mechanisms.

Health and Social Services

Joint Committee on Financial Services (Joint)

https://malegislature.gov/Bills/194/H4489