Prohibits excessive increases in prices charged for essential off-patent and generic prescription drugs and biological products.
This bill prohibits manufacturers and distributors from excessively increasing prices for essential off-patent or generic prescription drugs and biological products without justification. It targets price hikes exceeding 50% within one year or exceeding $80 for a 30-day supply or full treatment, triggering an investigation by the Director of Consumer Affairs. Manufacturers must then justify the increase within 45 days by detailing production costs, cost changes, and public health efforts. Violations can result in court orders requiring price restoration, mandatory availability at prior prices, or civil penalties up to $10,000 per sale.
Bill status
in committee
1 of 4 stages cleared
Introduction
Feb 2024
Committee Review
Floor Vote
Governor
Introduced Feb 12, 2024
Last action Feb 12, 2024
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
1
Key actions
0
Committee
0
Feb 12, 2024
Introduced
Introduced in the Assembly, Referred to Assembly Health Committee
lower
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Carol Murphy
DDemocratic
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