CT SB00260

Establishes the Prescription Drug Cost Control Board effective October 1, 2022, as a quasi-public agency to monitor prescription drug prices and recommend upper price limits to the Insurance Commissioner.

Board consists of five voting members and three alternate members with expertise in health care, economics, and clinical medicine, appointed by the Governor and confirmed by the Senate for five-year terms.

Board identifies prescription drugs meeting specific price thresholds including brand name drugs costing $30,000+ annually, drugs with $3,000+ price increases in 12 months, biosimilars not at least 15% cheaper than referenced biologics, and generic drugs costing $100+ for a 30-day supply or with 200%+ price increases.

Board may assess fees on prescription drug manufacturers to fund operations and can examine pricing documents and conduct affordability reviews considering factors like wholesale acquisition costs, discounts, patient cost-sharing, and therapeutic alternatives.

Creates Prescription Drug Affordability Stakeholder Council with 19 members representing health advocates, labor unions, healthcare providers, insurers, manufacturers, and state agencies to advise the board on drug affordability decisions and submit annual reports.