HB 18-1009

HB 18-1009, also known as the Diabetes Drug Pricing Transparency Act of 2018, requires companies that make or sell insulin drugs for diabetes to report their pricing information annually to the state. This includes drug manufacturers, pharmacies, and insurance providers. The state board of health will analyze this data and publish a public report each year. Additionally, nonprofit organizations receiving funding from these drug makers must also disclose those contributions. If companies don’t comply with reporting requirements, they could face penalties. Since the bill has been signed into law, it is now in effect and being implemented by the state board of health.

Official Summary

The bill creates the 'Diabetes Drug Pricing Transparency Act of 2018'. The state board of health is responsible for implementing the act. Drug manufacturers, pharmacy benefit managers, insurers, and pharmacies must submit annual reports to the state board regarding prescription insulin drugs used to treat diabetes. The state board analyzes the submitted information and publishes a report. The state board may impose penalties on drug manufacturers or pharmacy benefit managers who do not comply with reporting requirements. Nonprofit organizations advocating for patients with diabetes or funding diabetes medical research that receive contributions from certain diabetes drug manufacturers must annually report those contributions. $287,602 is appropriated from the general fund to the department of public health and environment to implement the act. $10,656 of this amount is reappropriated to the department of law for legal services to the department of public health and environment. (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.) , Read More

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