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 the state health department and insurance office, affecting companies that sell brand-name or generic drugs in the state. Manufacturers must notify regulators at least 30 days before raising prices by more than 25 percent over two years or introducing high-cost drugs, providing justification including cost-effectiveness data and comparisons to similar medications. The bill also mandates annual reports on manufacturer-sponsored patient assistance programs and requires posting of pricing documentation online with public hearings to review trends. Failure to submit required notices or reports can result in daily penalties of up to $10,000. The legislation authorizes funding for two additional state staff positions to administer these reporting requirements.