senate Bill S7739

2019-2020 Legislative Session

Relates to investigating critical prescription drug pricing

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Insurance Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Feb 12, 2020 referred to insurance

S7739 (ACTIVE) - Details

Current Committee:
Senate Insurance
Law Section:
Insurance Law
Laws Affected:
Add §344, Ins L
Versions Introduced in 2021-2022 Legislative Session:
S320

S7739 (ACTIVE) - Summary

Requires investigating of critical prescription drug pricing; provides for civil penalties and private actions for certain critical prescription drug pricing.

S7739 (ACTIVE) - Sponsor Memo

S7739 (ACTIVE) - Bill Text download pdf


                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  7739

                            I N  S E N A T E

                            February 12, 2020
                               ___________

Introduced  by  Sen.  MYRIE  -- read twice and ordered printed, and when
  printed to be committed to the Committee on Insurance

AN ACT to amend the insurance law, in relation to investigating critical
  prescription drug pricing

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The insurance law is amended by adding a new section 344 to
read as follows:
  §  344.  INVESTIGATION  BY THE SUPERINTENDENT WITH RESPECT TO CRITICAL
PRESCRIPTION DRUGS. (A) WHENEVER IT SHALL APPEAR TO THE  SUPERINTENDENT,
EITHER  UPON COMPLAINT OR OTHERWISE, THAT IN THE ADVERTISEMENT, PURCHASE
OR SALE WITHIN THIS STATE OF ANY CRITICAL PRESCRIPTION  DRUG,  THAT  THE
PRICE  OF  THAT CRITICAL PRESCRIPTION DRUG HAS INCREASED OVER THE COURSE
OF ANY TWELVE MONTHS BY MORE THAN THE INCREASE OF  THE  COST  OF  LIVING
INDEX FOR THE LIST PRICE OF THAT CRITICAL PRESCRIPTION DRUG, OR IF IT IS
SUSPECTED  THAT  ANY PERSON, PARTNERSHIP, CORPORATION, COMPANY, TRUST OR
ASSOCIATION, OR ANY AGENT OR EMPLOYEE THEREOF HAS SOLD  OR  OFFERED  FOR
SALE  OR  IS  ATTEMPTING  TO  SELL OR IS OFFERING FOR SALE  ANY CRITICAL
PRESCRIPTION  DRUG  FOR WHICH  THE PRICE OF THAT DRUG HAS INCREASED OVER
THE COURSE OF ANY TWELVE MONTHS BY MORE THAN THE INCREASE OF THE COST OF
LIVING INDEX FOR THE LIST PRICE OF THAT DRUG, OR IF  THE  SUPERINTENDENT
BELIEVES IT IS TO THE PUBLIC INTEREST TO INVESTIGATE, THE SUPERINTENDENT
SHALL  REQUIRE  SUCH PERSON, PARTNERSHIP, CORPORATION, COMPANY, TRUST OR
ASSOCIATION, OR ANY AGENT OR EMPLOYEE THEREOF, TO FILE WITH THE  DEPART-
MENT  A STATEMENT IN WRITING UNDER OATH OR OTHERWISE AS TO ALL THE FACTS
AND CIRCUMSTANCES CONCERNING THE PRICE INCREASE AND FOR THAT PURPOSE MAY
PRESCRIBE FORMS UPON WHICH SUCH STATEMENTS SHALL BE MADE.
  (B) IN ADDITION TO ANY OTHER POWER GRANTED BY LAW, THE SUPERINTENDENT,
HIS OR HER DEPUTY OR OTHER OFFICER DESIGNATED BY THE  SUPERINTENDENT  IS
EMPOWERED  TO  SUBPOENA WITNESSES, COMPEL THEIR ATTENDANCE, EXAMINE THEM
UNDER OATH AND REQUIRE THE PRODUCTION OF ANY BOOKS OR PAPERS WHICH HE OR
SHE DEEMS RELEVANT OR MATERIAL TO THE INQUIRY.  SUCH POWER  OF  SUBPOENA
AND  EXAMINATION SHALL NOT ABATE OR TERMINATE BY REASON OF ANY ACTION OR
PROCEEDING BROUGHT BY THE ATTORNEY GENERAL.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

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