Creates new GS Chapter 131E, Article 11C (340B Covered Entities). In Part 1 (Fair Pricing of 340B Drugs by Hospitals), establishes definitions including the federal 340B Drug Pricing Program authorized under 42 U.S.C. § 256b and “covered entity” as hospitals and children’s hospitals under 42 U.S.C. § 256b(a)(4)(L) or (M). Requires that hospitals and other covered entities under the 340B program that acquire drugs at a discounted rate may not accept a higher cost as payment for dispensing or administering the drugs to patients. Makes a violation of this pricing restriction an unfair or deceptive trade practice subject to action under GS Chapter 75, Article 1.

In Part 2 (340B Covered Entity Transparency), establishes definitions again referencing the federal 340B Drug Pricing Program authorized under 42 U.S.C. § 256b, and adopting a broader definition of “covered entity” that includes additional health facilities from 42 U.S.C. § 256b(a)(4) beyond the definition in Part 1. Requires covered entities such as hospitals to report annually by October 1 to the Department of Health and Human Services (DHHS) on a series of items related to the dispensing and payment for 340B drugs and the prescribing and pharmacies contracted with the covered entity for 340B drugs. Requires DHHS to post the reports received from covered entities on a public portion of its website. The first report required by Part 2 is due October 1, 2026.