LA SB401

Establishes a 9-member Prescription Drug Affordability Board within the Department of Insurance, including the insurance commissioner, LDH secretary, Board of Pharmacy president (or designees), and 6 public members with healthcare/pharmacy backgrounds appointed by the governor and legislative leaders for 5-year terms

Requires the board to develop a list of "critical prescription drugs" based on cost to public programs like Medicaid, state pricing, usage rates, availability of alternatives, and treatment success rates, with the list reviewed every 3 years

Mandates drug manufacturers report detailed pricing information to the board, including production costs, R&D expenses (public and private), marketing costs, international prices, and prices charged to Louisiana pharmacies and pharmacy benefit managers

Requires prescription drug marketing materials directed at healthcare providers to include price disclosures such as average wholesale price for a 30-day supply, original U.S. market price, and full price change history

Violations of reporting or disclosure requirements constitute prohibited practices under Louisiana's Unfair Trade Practices and Consumer Protection Law; manufacturer-reported data remains confidential but the board must publish an annual report identifying drugs with excessively high costs compared to other states and countries