HB 2668 Summary

• Creates a new chapter requiring the Department of Health to compile and publish annually a list of essential prescription drugs for diabetes treatment (including insulin and biguanides) with wholesale acquisition costs, identifying drugs with price increases exceeding inflation benchmarks.

• Mandates prescription drug manufacturers submit annual reports by April 1 detailing production costs, administrative expenses, profits, patient assistance programs, rebates to pharmacy benefit managers, and five-year price increase history.

• Requires pharmacy benefit managers to report annually by April 1 on total rebates negotiated for diabetes drugs, amounts retained by the manager, and rebate amounts by insurance type (Medicare, Medicaid, governmental, private, ERISA plans).

• Obligates pharmaceutical sales representatives to register with the Department and report annually on compensation provided to healthcare providers/facilities exceeding $10 individually or $100 aggregate, and drug samples distributed.

• Requires nonprofit organizations advocating for diabetes patients or funding diabetes research to disclose annual payments and donations received from manufacturers, pharmacy benefit managers, or their lobbyists, expressed as a percentage of total gross income.