SB 411 – Prescription Drug Pricing

SB 411 – Prescription Drug Pricing

Primary Senate Sponsors: Sen. Sarah Crawford (D-Franklin, Wake); Sen. Mujtaba Mohammed (D-Mecklenburg); Sen. Paul Lowe, Jr. (D-Forsyth)

Summary

This bill establishes The Prescription Drug Transparency Act. This bill:

• Sets out a list of defined terms.
• Requires drug manufacturers to notify all interested parties of an pending substantial price increase at least 60 days prior to the increase.
• Requires manufacturers to disclose the following within 30 days of the notice of an upcoming price increase: (1) a justification for the proposed price increase; (2) the previous year’s marketing budget for the drug; (3) the date and price of acquisition if the drug was not developed by the manufacturer; and (4) a schedule of price increases for the drug for the previous five years.
• Requires drug manufacturers to notify all interested parties of the price of any new prescription drug within three days after the manufacturer receives approval by the U. S. Food and Drug administration.
• Requires manufacturers, or the agent of a manufacturer, to disclose to prescribers if any ingredient in the drug being marketed is known to pose a risk of dependency.
• Authorizes the DHHS Secretary to assess a civil penalty against any manufacturer that fails to report the required information.
• Requires the DHHS Secretary to develop plan to collect data from manufacturers related to the cost and pricing of prescription drugs in order to provide transparency in and accountability for prescription drug pricing.

Movement

Filed – 3/30/2021