NC S718

Clarifies that pharmacists may only substitute generic drugs that are listed as therapeutically equivalent on the FDA's Approved Drug Products with Therapeutic Equivalence Evaluations, rather than using a broader definition of equivalence.

Requires pharmacists to obtain and document both prescriber's written or verbal consent before substituting any drug product that is not an equivalent drug product identified on the prescription.

Requires pharmacists to obtain and document patient's written or verbal consent, either directly or through an authorized representative, before making non-equivalent drug substitutions.

Mandates that pharmacists maintain documentation of prescriber and patient consent on file in accordance with existing pharmacy record-keeping requirements.

Becomes effective upon passage into law.