Relating to prescription drugs.

Creates Oregon Premium Protection Program in Department of Consumer and Business Services and establishes Oregon Premium Protection Fund. Requires pharmaceutical manufacturer to pay to department cost of prescription drug that exceeds specified threshold. Requires department to use payments to reimburse insurers, third party administrators, Public Employees' Benefit Board, Oregon Educators Benefit Board, health care service contractors and multiple employer welfare arrangements for incurred costs of drug that exceeds specified threshold. Requires pharmaceutical manufacturer to provide 60 days' advance notice of increase in cost of prescription drug that exceeds 3.4 percent over 12-month period. Prohibits Public Employees' Benefit Board, Oregon Educators Benefit Board, health care service contractors, multiple employer welfare arrangements and carriers for small employer, group or individual health benefit plans from requiring enrollees to incur out-of-pocket costs for prescription drugs that exceed specified maximums. Requires pharmaceutical manufacturers to report to Department of Consumer and Business Services specified information about prescription drug costs and about patient assistance programs. Authorizes civil penalties for failing to report or to make payments required by Oregon Premium Protection Program . Requires Public Employees' Benefit Board, Oregon Educators Benefit Board, health care service contractors, multiple employer welfare arrangements and carriers for small employer, group or individual health benefit plans to make available online specified information about prescription drug coverage and costs and to post to website 30 days' advance notice of termination of coverage of prescription drug .