Establishes requirements for State entities to enter into bulk purchasing arrangements for pharmaceutical products.

This bill requires New Jersey's state purchasing director to review all pharmaceutical contracts and create an annual list prioritizing drugs for bulk purchasing based on cost, availability of similar alternatives, and the 25 highest-cost drugs used by state programs. The director must coordinate with health, human services, corrections, and other state agencies to develop bulk purchasing agreements for these priority drugs, aiming to reduce costs for state programs. The bill also mandates outreach to counties, local governments, and private buyers (including small businesses and health plans) to help them access these bulk purchasing arrangements. State agencies must report annually on the program's implementation, cost impacts, and effects on drug availability for both covered and non-covered products.