MS SB2365

Defines "biological product" as the same as defined in 42 USC Section 262 and adds "interchangeable biological product" definition for products FDA-licensed as interchangeable or therapeutically equivalent under federal standards.

Allows pharmacists to perform product selection with interchangeable biological products using the same rules as generic drug equivalents, including dispensing lower-cost alternatives when permitted by the prescriber.

Requires pharmacists to report to prescribers within five business days which specific biological product was dispensed, including product name and manufacturer, through electronic medical records, e-prescribing systems, pharmacy benefit management systems, or pharmacy records.

Mandates biological product labels include the FDA-designated nonproprietary name and manufacturer name, and requires labels to indicate "I.B." when an interchangeable biological product is dispensed.

Effective July 1, 2019.