PHARM DISCOUNT PRESCRIP DRUGS

Creates the Pharmaceutical Best Price Buying Initiative Act and amends the Freedom of Information Act and the Illinois Public Aid Code. Creates the Pharmaceutical Best Price Buying Initiative Program. Requires the Department of Healthcare and Family Services to negotiate prescription drug discount agreements with drug manufacturers to provide discounts for drugs purchased by pharmacies and drug wholesalers participating in the program. Provides discount benchmarks. Provides that any drug manufacturer, and any individual or entity licensed under the Pharmacy Practice Act of 1987 or the Wholesale Drug Distribution Licensing Act, may participate in the program. Sets forth terms that must be included in the agreements, including provisions for rebates to participating pharmacies and drug wholesalers. Requires the Department to establish the procedures and enabling mechanisms for a program participant to obtain rebates from a prescription drug manufacturer. Provides for confidentiality of information in connection with negotiations and agreements. Provides that on August 1, 2010, the Department shall determine whether manufacturer participation in the program has been sufficient to meet certain benchmarks. Provides for a prior authorization requirement under Medicaid with respect to drugs of a manufacturer under certain conditions. Effective immediately.