NC H839

Requires manufacturers of brand-name pharmaceutical drugs to file annual reports with the Department of Insurance by May 1 each year containing detailed cost and utilization information.

Reporting requirements include total production costs, average wholesale prices with five-year history, research and development costs, administrative and marketing costs, total profit in dollars and percentage, and patient assistance program funding.

Applies to seven categories of drugs: oral anticancer medications, oral analgesics, oral antidepressants, oral respiratory medications, oral statins, injectable medications including insulin, and biologic medications as defined under federal law.

Directs the Commissioner of Insurance to issue an annual report summarizing submitted information to the General Assembly and post findings on the Department's website.

Requires the Commissioner to convene an advisory workgroup including pharmaceutical industry, insurance plans, pharmacy benefit managers, state agencies, consumer advocates, and physicians to develop the report form.