MN SF5329

Drug manufacturers must report price increases to the commissioner within 60 days when brand name drugs increase 10% or more over 12 months (or 16% over 24 months) and generic/biosimilar drugs increase 50% or more over 12 months, for drugs costing $100 or more for a 30-day supply.

Manufacturers must submit detailed information with price increase reports including drug description, contributing factors, direct costs, sales revenue, rebates, net profit, patient assistance amounts, patent expiration dates, and international pricing data.

The commissioner shall post reported prescription drug price information on the department website in an easy-to-read format identifiable on a per-drug basis, while withholding trade secrets and non-public data with appropriate documentation.

The commissioner must produce and post quarterly lists of up to 500 prescription drugs of substantial public interest and notify manufacturers and pharmacy benefit managers (PBMs) to submit detailed reporting within 60 days of notification.

Manufacturers and PBMs must report comprehensive data on drugs designated as having substantial public interest, including pricing, units sold, reimbursement amounts, rebates, and acquisition information when applicable; the commissioner is exempt from rulemaking requirements under chapter 14 for implementing these provisions.