GA HB931

Establishes a five-member Prescription Drug Affordability Board appointed by the Governor to review and regulate prescription drug costs in Georgia, with members serving staggered terms of one to four years

Beginning January 1, 2026, the board will identify drugs for affordability review based on criteria including wholesale acquisition cost of $3,000+ per year, price increases of $300+ or 200%+ in 12 months, and biosimilar products not priced at least 15% below reference biologics

Authorizes the board to set upper payment limits on drugs found to present affordability challenges, with limits taking effect six months after adoption and applying to all purchases and reimbursements for drugs dispensed in Georgia

Requires manufacturers to provide six months written notice before withdrawing any drug with an established upper payment limit from the Georgia market, with penalties up to $500,000 for failure to notify

Mandates that savings from upper payment limits be used to reduce consumer costs, prioritizing out-of-pocket prescription drug expenses, with annual reporting required by April 1 each year