Prohibits excessive increases in prices charged for essential off-patent and generic prescription drugs and biological products.

This bill prohibits manufacturers and distributors from raising prices excessively on essential generic prescription drugs and biological products after their patents expire. It targets drugs that are widely used, lack patent protection, and are critical for treating serious health conditions (like life-threatening or chronic illnesses), with price hikes exceeding 50% within a year for drugs costing over $80 for a 30-day supply. The Director of Consumer Affairs monitors prices and must notify the Attorney General if a price increase meets these thresholds, requiring manufacturers to explain the increase within 45 days. The law aims to prevent unjustified price spikes that leave patients with no affordable alternatives, directly affecting drug companies, pharmacies, and patients using these essential medications.