Modifies provisions relating to payments for prescription drugs, including 340B drugs

SB 1340 prevents health insurers and pharmacy benefit managers (PBMs) from discriminating against healthcare providers participating in the federal 340B drug program. It prohibits them from paying covered entities (like hospitals and clinics) less for 340B drugs than other pharmacies, imposing different fees or network restrictions, requiring identification of 340B drugs, or refusing coverage for these drugs. The law requires equal treatment in reimbursement and terms, with violations subject to $5,000 daily civil penalties. This directly affects 340B-covered entities and the insurers/PBMs that pay for their medications.