IL HB3187

Creates Article XXXIIB of the Illinois Insurance Code to regulate pharmacy benefit managers (PBMs)

Requires PBMs to disclose upon request all rebate amounts received from pharmaceutical manufacturers, including product-specific and generalized rebates

Requires PBMs to disclose upon request the actual amounts paid to pharmacies for prescription drugs

Requires PBMs to notify contracting parties of any consideration received from manufacturers for dispensing brand-name drugs when generic or biologically similar products become available

Makes any contract provision contrary to these requirements unenforceable if entered into, amended, or renewed on or after the bill's effective date