An Act relative to prescription drug pricing

This bill requires pharmacy benefits managers and related entities operating in Massachusetts to obtain a license from the state insurance commissioner. To qualify for this license, applicants must pay a fee, secure a surety bond, and designate an agent for legal service. The commissioner will have the authority to investigate these entities, suspend or revoke licenses for violations, and impose administrative fines. Additionally, licensed managers must provide covered entities with specific information regarding prescription drug pricing.