Bill > SB1344

This bill establishes the Insulin Access and Affordability Program, to be managed by the State Department of Health, with the goal of making affordable insulin more accessible in Oklahoma, boosting market competition, and addressing shortages of generic insulin. The program will provide financial aid from legislative appropriations to a nonprofit pharmaceutical company that is developing a fast-acting biosimilar insulin, which is a type of insulin that is very similar to an existing brand-name insulin. Before any funds are given, the Department must sign a memorandum of understanding (MOU) with the manufacturer, and the manufacturer must contribute an equal amount of non-state funds. This MOU will outline the manufacturer's commitment to producing the biosimilar insulin at a low cost without unnecessary rebates, estimate the potential savings for Oklahoma residents and payers, include provisions for repaying the funds if the manufacturer fails to deliver the product, and require annual reports on the development progress. This act is set to take effect on July 1, 2026, and is declared an emergency measure, meaning it will be in full force immediately upon passage and approval to address urgent public health needs.

Budget and Finance, Health and Social Services

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb1344&Session=2600