HB 2890 Summary

• Establishes the Prescription Drug Affordability Board as an independent state agency with 5 members and 3 alternates appointed by the governor to protect Arizona residents and stakeholders from high prescription drug costs.

• Board shall identify and review prescription drug products meeting cost thresholds, including brand-name drugs with launch costs of $30,000+ annually, price increases of $3,000+ in 12 months, and generic drugs costing $100+ for 30-day supplies or with 200%+ price increases.

• Upon finding affordability challenges, the board may establish upper-payment limits on all purchases and reimbursements of identified drugs dispensed in Arizona, applicable to state-sponsored health plans and health care providers.

• Creates the Prescription Drug Affordability Stakeholder Council with 20 members representing health advocates, seniors, labor, healthcare providers, insurers, researchers, manufacturers, and patients to provide input to the board.

• Establishes the Prescription Drug Affordability Fund through annual manufacturer assessments based on their share of gross drug revenues in Arizona, with funds used to support board operations and repay initial state general fund appropriations.