NJ A4023

Director of the Division of Purchase and Property must review all State pharmaceutical purchasing arrangements and contracts to maximize bargaining power and reduce costs for pharmaceutical products and pharmacy services

Director must create and annually update a prioritization list for bulk purchasing, including the 25 highest-cost prescription drugs, devices, and biological products purchased by State programs, with written explanations required for any high-cost items not prioritized

Bulk purchasing arrangements must be developed in coordination with multiple state entities including the Commissioners of Human Services, Health, Corrections, and Banking and Insurance, as well as the State Health Benefits Commission and School Employees' Health Benefits Commission

Director must establish outreach processes for county and local governments, small businesses, health plans, and self-insured individuals to participate in and benefit from State bulk purchasing arrangements

Annual reports to the Governor and Legislature are required beginning 18 months after enactment, detailing which drugs are subject to bulk purchasing, effects on pricing and availability, and participation by local governments and private purchasers