NY S00604

Creates a wholesale prescription drug importation program within the Department of Health, allowing approved wholesalers to import prescription drugs from other countries for wholesale distribution in New York State.

Requires imported drugs to meet FDA safety and effectiveness standards, be acquired from regulated suppliers in other countries, and generate substantial savings for consumers.

Mandates compliance with federal tracking and tracing requirements under 21 U.S.C. §§ 360eee and 360eee-1, and prohibits imported drugs from being sold or distributed outside New York State.

Requires the Commissioner to seek federal approval and certification from the U.S. Department of Health and Human Services, and to consult with the Attorney General regarding anticompetitive behavior.

Requires the Commissioner to establish approval procedures for wholesalers, conduct annual audits of the program, and submit annual reports to the Assembly and Senate health and finance committees.