MN SF4083

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

Manufacturers must report drug identification codes, names, generic product identifiers, anatomical therapeutic chemical codes, wholesale acquisition costs, average wholesale prices, and pricing effective dates in a format specified by the commissioner.

Commissioner must post reported drug pricing information to the department website by April 1 each year in an easy-to-read format, classified as public data.

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

Establishes failure to comply with reporting and price maintenance requirements as grounds for disciplinary action against drug manufacturers under Minnesota pharmacy licensing laws.