MN HF3805

Requires drug manufacturers to report prescription drug pricing information annually to the Minnesota Commissioner of Commerce beginning January 30, 2021, for drugs with a wholesale acquisition cost of $25 or more.

Manufacturers must report national drug code, brand/generic name, wholesale acquisition cost, average wholesale price, and other specified drug identifiers in a form designated by the commissioner.

Prohibits manufacturers from increasing the wholesale acquisition cost of drugs included in health plan formularies approved by the commissioner for the next calendar year.

Requires the commissioner to publicly post all reported drug price information on the department website by April 1 each year in an easy-to-read format, classified as public data not subject to trade secret protections.

Establishes that manufacturer failure to comply with reporting requirements or price maintenance restrictions constitutes grounds for disciplinary action under Minnesota pharmacy board regulations.