Prescription drugs prices establishment subject to the Medicare Drug Price Negotiation Program

This bill establishes a price cap for specific prescription drugs in Minnesota that are subject to federal Medicare drug price negotiation. It requires drug manufacturers to sell these medications at no more than the maximum fair price set by the federal government, while also mandating that health plans and pharmacy benefit managers reimburse pharmacies at least the higher of that federal price or the national average drug acquisition cost. The legislation includes a reporting requirement for financial details related to drug dispensing and imposes penalties on manufacturers that try to avoid these price limits by removing drugs from the market. These rules are designed to take effect on January 1, 2027, and directly impact pharmaceutical companies, health insurers, pharmacy benefit managers, and pharmacies operating within the state.