MS HB482

Attorney General must compile by February 1 annually a list of prescription drugs essential for treating diabetes (including all insulin and biguanides) with their wholesale acquisition costs.

Attorney General must identify drugs on that list with price increases meeting or exceeding either the Medical Care Consumer Price Index for the preceding year or twice that index over the preceding two years.

Drug manufacturers must submit annual reports by April 1 detailing production costs, administrative expenses, profits, patient assistance programs, pricing history over five years, and rebates provided to pharmacy benefit managers.

Manufacturers of drugs with excessive price increases must submit additional reports by April 1 explaining reasons for the increases and the percentage attributable to each factor.

Pharmacy benefit managers must report annually by April 1 on total rebates negotiated for diabetes drugs, amounts retained, and rebate breakdowns by payer type (Medicare, Medicaid, governmental, private, and ERISA plans).