CT SB00011

Prohibits pharmaceutical manufacturers and wholesale distributors from selling certain generic drugs and off-patent brand-name drugs at prices exceeding a reference price (January 1, 2025 wholesale acquisition cost) adjusted for inflation, effective January 1, 2026, with an 80% civil penalty on excess revenue for violators with at least $250,000 in annual Connecticut sales

Establishes a Prescription Drug Affordability Council and authorizes UConn Health Center to negotiate bulk prescription drug prices for state agencies, incorporating federal "maximum fair prices" from the Inflation Reduction Act into state purchasing negotiations

Caps out-of-pocket costs for insulin at $25 per 30-day supply and diabetes devices at $100 per 30-day supply, while requiring state health plans to offer at least one eligible insulin product with no copayment at the lowest wholesale acquisition cost

Requires pharmacy benefit managers to owe fiduciary duties to health carriers, prohibits them from charging health plans prices different from what they pay pharmacies, and mandates annual reporting on pricing and profits between carriers and PBMs

Directs the Commissioner of Consumer Protection to study feasibility of a Canadian prescription drug importation program by October 2027, with authority to seek FDA approval if determined viable, and establishes a task force to address prescription drug shortage preparedness