Improves access to lower-cost generic and biosimilar drugs.

This bill requires New Jersey Medicaid managed care organizations to prioritize lower-cost generic and biosimilar drugs over their brand-name counterparts. Specifically, it mandates that patients prescribed a brand drug for the first time receive a biosimilar if one is available, unless a healthcare provider appeals this decision. Additionally, the law forces insurers to place cheaper generics and biosimilars on their drug formularies with better pricing and fewer access restrictions, such as prior authorizations, whenever these alternatives are less expensive than the original products. The bill also improves transparency by requiring these organizations to publish their drug lists online in an easy-to-find format that does not require users to create an account.