Signed by Governor Phil Murphy

Vote Smart's Synopsis:

Vote to pass a bill that establishes an independent board of experts to guide the state on prescription drug policy.

Highlights:

• Makes definitions regarding prescription drug pricing (Sec. 1). 

• Requires a drug manufacturer to notify the division if it is increasing the listed price for a particular drug with the notice provided in writing (Sec. 2). 

• Requires a drug manufacturer to notify the division if it is introducing a new drug that has a listed price that exceeds the medicare part D specialty threshold (Sec. 2)

• Specifies that if a manufacturer certifies that it does not have access to the state-specific data required to be reported pursuant to this section and has no way of obtaining the data the division may permit the manufacturer to report the data on a national level (Sec. 2). 

• Requires the pharmacy services administrative organization to report annually to the division the reimbursement rate that the pharmacy services administrative organization is to pay pharmacies for brand, generic, and specialty drugs along with other info (Sec. 6). 

• Requires a fine of up to $2500 for individuals who leak information submitted by an individual reporting entity (Sec. 9). 

• Establishes the Drug Affordability COuncil in the State of New Jersey and sets out its membership requirements (Sec. 10). 

• Prohibits gifts or donations to members of the council (Sec. 10). 

• Establishes other Requirements for the council (Sec. 10).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that establishes an independent board of experts to guide the state on prescription drug policy.

Highlights:

• Makes definitions regarding prescription drug pricing (Sec. 1). 

• Requires a drug manufacturer to notify the division if it is increasing the listed price for a particular drug with the notice provided in writing (Sec. 2). 

• Requires a drug manufacturer to notify the division if it is introducing a new drug that has a listed price that exceeds the medicare part D specialty threshold (Sec. 2)

• Specifies that if a manufacturer certifies that it does not have access to the state-specific data required to be reported pursuant to this section and has no way of obtaining the data the division may permit the manufacturer to report the data on a national level (Sec. 2). 

• Requires the pharmacy services administrative organization to report annually to the division the reimbursement rate that the pharmacy services administrative organization is to pay pharmacies for brand, generic, and specialty drugs along with other info (Sec. 6). 

• Requires a fine of up to $2500 for individuals who leak information submitted by an individual reporting entity (Sec. 9). 

• Establishes the Drug Affordability COuncil in the State of New Jersey and sets out its membership requirements (Sec. 10). 

• Prohibits gifts or donations to members of the council (Sec. 10). 

• Establishes other Requirements for the council (Sec. 10).

Full Bill Text