NJ A3265

Requires general acute care hospitals in New Jersey to report prescription drug pricing data to the Division of Consumer Affairs within 60 days of annual notification specifying which drugs require reporting

Hospitals must report minimum and maximum prices paid, dispensing/administration volume by payer type, rebates and discounts received, and net income for each specified drug and drug group from the previous calendar year

Adds hospitals to the list of reporting entities under the existing prescription drug transparency law (P.L.2023, c.106), subjecting them to the same registration, assessment fees, and certification requirements as manufacturers, insurers, pharmacy benefits managers, and wholesalers

Non-compliant hospitals face civil penalties starting at $10,000 for the first day of violation, increasing by $1,000 per day for subsequent violations, up to a maximum of $100,000 per day

Takes effect on the first day of the thirteenth month following enactment, with all reported data subject to confidentiality protections and used by the Drug Affordability Council to develop recommendations for lowering prescription drug costs