IL HB0053

Requires manufacturers of brand name prescription drugs to provide 60 days advance written notice before increasing wholesale prices by more than 10% or $10,000 within a 12-month period

Requires manufacturers of generic prescription drugs priced at $100 or more per 30-day supply to provide 60 days advance notice before increasing wholesale prices by more than 25% within a 12-month period

Mandates manufacturers of new prescription drugs costing $10,000 or more annually or per course of treatment to notify relevant parties within 3 days of FDA approval, and submit pricing justification, marketing budgets, and acquisition details within 30 days

Imposes a civil penalty of $1,000 per day for manufacturers who fail to report required pricing information after the 30-day notification period

Requires the General Assembly to hold annual public hearings on prescription drug pricing trends and mandates that drug manufacturers disclose to prescribers when marketing any drug containing ingredients known to pose a dependency risk