Relating to: prescription drug cost reporting by manufacturers, making an appropriation, and providing a penalty. (FE)

This bill requires prescription drug manufacturers to report price increases and new drug introductions to state health officials, affecting pharmaceutical companies selling drugs in the state. Manufacturers must notify the department and insurance office at least 30 days before raising drug prices by more than 25% over two years or introducing high-cost brand-name drugs, providing justification including cost-effectiveness data and comparisons to similar medications. The law also mandates annual reports on manufacturer-sponsored patient assistance programs and price concessions given to pharmacy benefit managers, with penalties of up to $10,000 per day for noncompliance. State health officials will publish the justification documents and conduct public hearings to analyze drug pricing trends.