Enacts new Article 48 of GS Chapter 66, consisting of sections 66-460 through 66-465, known collectively as The Prescription Drug Transparency Act. Lists definitions applicable to this act. Requires manufacturers to notify interested parties, which include State agencies that purchase prescription drugs or have specified classes of employees, of upcoming substantial price increases (defined as an increase that causes the cost of a drug to rise by 10% or more in 12 months) at least 60 days in advance, and within 30 days of that notification, to provide information on the reason for the increase as well as a schedule of price increases for the previous five years. Requires manufacturers to also provide notification of the price of new products within three days of FDA approval, and within 30 days after that a reason for the price. Limits requirement for price justification to publicly available information. Mandates disclosure of any ingredients known to pose a risk of dependency in humans by manufacturers who market a drug to a prescriber. Provides penalty of $1,000 per day for violations until the required information is submitted. Provides there is no upper limit for a price as allowed by law. Requires the Secretary of the Department of Health and Human Services (Secretary) to develop a plan to collect data from manufacturers regarding the cost and pricing of prescription drugs and to set up an online portal to provide public access to the notifications, reports, and disclosures required by this Article. Directs the Secretary to consult with other state and national agencies and organizations regarding data collection, and to submit its findings and recommendations to the Joint Legislative Oversight Committee on Health and Human Services (JLOCHHS) by February 1, 2020. Mandates the Secretary report annually, beginning December 1, 2020, to the JLOCHHS regarding the top 25 of each of the following: (1) most frequently prescribed drugs, (2) costliest drugs, and (3) drugs with the highest year-over-year cost increases as determined by the total amount spent in this tate.
Effective October 1, 2019.
Bill Summaries: S658 PRESCRIPTION DRUG PRICING.
Bill S 658 (2019-2020)Summary date: Apr 9 2019 - View Summary