Bill Reintroduced to Track Rising Prescription Drug Prices

Bill Reintroduced to Track Rising Prescription Drug Prices - Healthcare Law Update - February 2024 - Brach Eichler
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2/28/2024

Assembly Bill 1646, reintroduced in the New Jersey General Assembly on January 9, 2024, would establish disclosure requirements regarding prescription drugs and biological product costs. Pharmacy Benefits Managers (PBMs) would be required to disclose information regarding pricing to benefit plan purchasers. PBMs would be required to establish a toll-free telephone number for consumers and pharmacists to use to inquire about plan coverage, pricing, and product safety. Callers would not be permitted to be placed on hold for more than 5 minutes and concerns would need to be resolved within 24 hours. The Bill would establish the Prescription Drug and Biological Product Review Commission. This Commission would have authority to establish a maximum price for drugs or biological products.

For more information, contact:
John D. Fanburg, Chair | 973.403.3107 | jfanburg@bracheichler.com
Edward Hilzenrath | 973.403.3114 | ehilzenrath@bracheichler.com
Erika R. Marshall | 973.364.5236 | emarshall@bracheichler.com

*This is intended to provide general information, not legal advice. Please contact the authors if you need specific advice.

Related Practices:   Healthcare Law

Related Industry:   Healthcare