senate Bill S320

2021-2022 Legislative Session

Relates to investigating critical prescription drug pricing

download bill text pdf

Sponsored By

Current 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

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 05, 2022 referred to insurance
Jan 06, 2021 referred to insurance

S320 (ACTIVE) - Details

Current Committee:
Senate Insurance
Law Section:
Insurance Law
Laws Affected:
Add §346, Ins L
Versions Introduced in 2019-2020 Legislative Session:
S7739

S320 (ACTIVE) - Summary

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

S320 (ACTIVE) - Sponsor Memo

S320 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    320
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                                (PREFILED)
 
                              January 6, 2021
                                ___________
 
 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 346 to
 read as follows:
   §  346.  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
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

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