Prescription drug transparency provisions modifications

SF 3294 modifies Minnesota's transparency requirements for the federal 340B drug pricing program. It mandates that covered entities (like hospitals and clinics participating in the 340B program) report annual financial data to the health commissioner, including drug acquisition costs, payments received from insurers, and program expenses, with hospitals required to report at the drug level for their top 50 dispensed drugs. The commissioner must then submit an annual report to the legislature, including specific financial details for entities with significant 340B revenue, and non-compliance may result in daily fines of up to $500.