AR SB1138

Creates Section 17-92-507 of Arkansas Code to regulate pharmacy benefits managers' maximum allowable cost (MAC) lists for prescription drugs, establishing transparency and procedural requirements.

Requires drugs on MAC lists to be therapeutically and pharmaceutically equivalent with FDA "A" or "B" ratings (or comparable Medispan ratings), available for purchase from national or regional wholesalers in Arkansas, and not obsolete.

Mandates pharmacy benefits managers provide pharmacy access to MAC lists, update lists within 7 calendar days of methodology changes, and notify pharmacies of updates promptly.

Establishes a pharmacy appeal procedure allowing challenges within 3 business days of fill date for drugs not meeting requirements or priced below pharmacy acquisition cost, with manager response required within 7 business days.

Exempts Medicaid program MAC lists from these requirements and classifies violations as deceptive and unconscionable trade practices under existing consumer protection law.