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OK SB773
Bill
AI Summary
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PBMs are prohibited from engaging in "spread pricing" (charging health plans more for drugs than they pay pharmacies) and must pay pharmacies for covered services even when the PBM terminates its contract with a plan sponsor or insurer
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PBMs must respond to Attorney General inquiries within 20 days, and failure to cooperate with investigations can result in civil fines of $100 to $10,000 per violation, with each day of non-compliance counted as a separate violation
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Oklahoma County District Court is established as the proper venue to compel subpoena compliance, and the Attorney General has unrestricted authority to obtain prescription drug transaction documentation from PBMs, insurers, auditors, and related entities
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PBMs that fail to pay fines or damages within 30 days of a final order face penalties of $10,000 per calendar day, with license suspension after six months of non-compliance
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Effective date is November 1, 2025
Legislative Description
Pharmacy benefit managers; modifying definitions; prohibiting certain circumstances; requiring nonpayment under providing venue for certain court proceeding; allowing Attorney General to obtain certain information. Effective date.
Last Action
Veto override message received
5/29/2025