AN ACT RELATING TO BUSINESSES AND PROFESSIONS -- RHODE ISLAND DRUG COST REVIEW COMMISSION

This bill creates the Rhode Island Drug Cost Review Commission to address rising prescription drug prices by treating them similarly to regulated utilities. The new commission will consist of five appointed members and a thirteen-member advisory board representing patients, doctors, insurers, and other stakeholders. Manufacturers must notify the commission if they plan to increase drug prices by more than ten percent or introduce new drugs costing over thirty thousand dollars annually, triggering a public review process. During these reviews, the commission will analyze costs and vote on whether to set price limits for payers, with decisions made publicly by a simple majority vote.