Price for prescription drugs subject to the Medicare Drug Price Negotiation Program established.

This bill establishes a price ceiling for specific prescription drugs in Minnesota that are subject to federal Medicare drug price negotiations. It requires drug manufacturers to stop accepting payments higher than the federal "maximum fair price" for these medications, while also ensuring pharmacies receive at least that amount or the national average cost, whichever is higher. To enforce these rules, the law prohibits manufacturers from removing drugs from the market to evade price limits unless they provide advance notice, and it mandates that health plans and pharmacy benefit managers share detailed financial data with the state's Prescription Drug Affordability Board. The provisions will take effect on January 1, 2027, impacting drug manufacturers, health insurance plans, pharmacy benefit managers, and pharmacies operating in the state.