The bill creates the 'Diabetes Drug Pricing Transparency Act of 2018'. The state board of health is responsible for implementing the act. Drug manufacturers, pharmacy benefit managers, insurers, and pharmacies must submit annual reports to the state board regarding prescription insulin drugs used to treat diabetes. The state board analyzes the submitted information and publishes a report. The state board may impose penalties on drug manufacturers or pharmacy benefit managers who do not comply with reporting requirements. Nonprofit organizations advocating for patients with diabetes or funding diabetes medical research that receive contributions from certain diabetes drug manufacturers must annually report those contributions.
$287,602 is appropriated from the general fund to the department of public health and environment to implement the act. $10,656 of this amount is reappropriated to the department of law for legal services to the department of public health and environment.
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)