NY State Senate Bill 2023-S599

Senate Bill S599

2023-2024 Legislative Session

Requires certain manufacturers of prescription drugs to notify the drug utilization review board of the proposed increase of the wholesale acquisition cost of such prescription drugs

download bill text pdf

Current Bill Status Via A1707 - Passed Senate

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

Please enter your contact information

First Name

Last Name

Email Address

A valid email address is required.

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

View Actions

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jun 06, 2023	returned to assembly passed senate 3rd reading cal.75 substituted for s599a
Jun 06, 2023	substituted by a1707a
Jun 01, 2023	amended on third reading 599a
Jun 01, 2023	vote reconsidered - restored to third reading
May 31, 2023	returned to senate recalled from assembly
May 30, 2023	recommitted to health substitution reconsidered
May 15, 2023	ordered to third reading cal.196 substituted for a1707
Jan 17, 2023	referred to health delivered to assembly passed senate ordered to third reading cal.75 reported and committed to rules
Jan 05, 2023	referred to health

Votes

- Jun 6, 2023 - Floor Vote
  A1707
  
  52
  
  Aye
  
  10
  
  Nay
  
  0
  
  Absent
  
  1
  
  Excused
  
  0
  
  Abstained
  - - Floor Vote: Jun 6, 2023
      
      aye (52)
      
      Addabbo Jr.
      
      Ashby
      
      Bailey
      
      Breslin
      
      Brisport
      
      Brouk
      
      Canzoneri-Fitzpatrick
      
      Chu
      
      Cleare
      
      Comrie
      
      Cooney
      
      Fernandez
      
      Gianaris
      
      Gonzalez
      
      Gounardes
      
      Harckham
      
      Hinchey
      
      Hoylman-Sigal
      
      Jackson
      
      Kavanagh
      
      Kennedy
      
      Krueger
      
      Lanza
      
      Liu
      
      Mannion
      
      Martinez
      
      Martins
      
      May
      
      Mayer
      
      Murray
      
      Myrie
      
      O'Mara
      
      Oberacker
      
      Ortt
      
      Parker
      
      Persaud
      
      Ramos
      
      Rivera
      
      Ryan
      
      Salazar
      
      Sanders Jr.
      
      Scarcella-Spanton
      
      Sepúlveda
      
      Serrano
      
      Skoufis
      
      Stavisky
      
      Stec
      
      Stewart-Cousins
      
      Tedisco
      
      Thomas
      
      Webb
      
      Weber
      
      nay (10)
      
      Borrello
      
      Gallivan
      
      Griffo
      
      Helming
      
      Mattera
      
      Palumbo
      
      Rhoads
      
      Rolison
      
      Walczyk
      
      Weik
      
      excused (1)
      
      Felder
  Jan 17, 2023 - Rules Committee Vote
  S599
  
  14
  
  Aye
  
  5
  
  Nay
  
  1
  
  Aye with Reservations
  
  0
  
  Absent
  
  1
  
  Excused
  
  0
  
  Abstained
  - - Rules Committee Vote: Jan 17, 2023
      
      aye (14)
      
      Addabbo Jr.
      
      Bailey
      
      Breslin
      
      Comrie
      
      Fernandez
      
      Gianaris
      
      Kennedy
      
      Krueger
      
      Lanza
      
      Liu
      
      Parker
      
      Sepúlveda
      
      Stewart-Cousins
      
      Thomas
      
      nay (5)
      
      Gallivan
      
      Griffo
      
      Helming
      
      O'Mara
      
      Stec
      
      aye wr (1)
      
      Ortt
      
      excused (1)
      
      Mayer

Bill Amendments

Original

A (Active)

co-Sponsors

2023-S599 - Details

See Assembly Version of this Bill:: A1707
Law Section:: Insurance Law
Laws Affected:: Add §111-a, Ins L
Versions Introduced in Other Legislative Sessions:: 2019-2020: S5942, A8253
2021-2022: S7499, A663

2023-S599 - Summary

Requires certain manufacturers of prescription drugs to notify the superintendent of any proposed increase of the wholesale acquisition cost of such prescription drugs.

2023-S599 - Sponsor Memo

                                 
BILL NUMBER: S599

SPONSOR: SALAZAR
 
TITLE OF BILL:

An act to amend the insurance law, in relation to requiring certain
manufacturers of prescription drugs to notify the superintendant of any
proposed increase of the wholesale acquisition cost of such prescription
drugs

 
PURPOSE:

This bill would require manufacturers to provide at least 60 day notice
Of their intent to raise wholesale prescription drug costs to the
Department of Financial Services if the increase is 10% or more of the
total cost of the drug.

 
SUMMARY OF PROVISIONS:

Section 1 amends the insurance law to add new section 111-a relating to
notification of prescription drug price increases by manufacturers.

Section 2 provides the effective date.

 
JUSTIFICATION:

This legislation will provide early warning of increases in the price of
prescription drugs. Breakthrough medications offer tremendous clinical
benefits for patients, but they should not be a blank check.  The prices
charged for prescription drugs are a major threat to keeping health care
affordable for New York employers and consumers.  Exorbitant increases
in prescription drug prices have been consistent across all segments of
the pharmaceutical industry. For example, in 2016 Mylan increased the
price for a package of two EpiPen Auto-Injectors from just over $100 to
more than $600 without any warning or public justification. Since the
start of 2019, more than two dozen drug makers have raised the prices on
a wide array of drugs by double-digit percentages.

The bill will not prohibit manufacturers from increasing prices, but
would require notice of price increases, enhancing transparency of
prescription drug costs. Providing notice before a price increase of
more than 10 percent takes effect is important so that consumers,
employers, providers, health plans and the state are prepared and can
take steps before. the increase is implemented. It would also be impor-
tant for the policymakers to be provided with the rationale for the
increase including whether the price increases will benefit the public
to help fund research and development that improve patient care or will
it merely result in increasing the cost of health care.

 
LEGISLATIVE HISTORY:

SENATE:

2019-2020: S5942(Salazar) - Referred to Health

2021: S7499E (Salazar) -  Referred to Rules

2022: Referred to Health, Passed Senate

 
FISCAL IMPLICATIONS:

None.

 
EFFECTIVE DATE:
This act shall take effect immediately.

2023-S599 - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    599
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                              January 5, 2023
                                ___________
 
 Introduced  by Sens. SALAZAR, MAY -- read twice and ordered printed, and
   when printed to be committed to the Committee on Health
 
 AN ACT to amend the insurance law,  in  relation  to  requiring  certain
   manufacturers  of  prescription  drugs to notify the superintendant of
   any proposed increase  of  the  wholesale  acquisition  cost  of  such
   prescription drugs
 
   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  111-a
 to read as follows:
   § 111-A. NOTIFICATION OF PRESCRIPTION DRUG PRICE INCREASES BY MANUFAC-
 TURERS. (A) THIS SECTION SHALL APPLY TO A MANUFACTURER OF A PRESCRIPTION
 DRUG THAT IS PURCHASED OR REIMBURSED IN THIS STATE BY ANY OF THE FOLLOW-
 ING:
   (1)  AN  INSURANCE  COMPANY AUTHORIZED IN THIS STATE TO WRITE ACCIDENT
 AND HEALTH INSURANCE, A COMPANY ORGANIZED  PURSUANT  TO  ARTICLE  FORTY-
 THREE  OF  THIS  CHAPTER,  A  MUNICIPAL  COOPERATIVE HEALTH BENEFIT PLAN
 ESTABLISHED PURSUANT TO ARTICLE FORTY-SEVEN OF THIS CHAPTER,  AN  ORGAN-
 IZATION  CERTIFIED  PURSUANT  TO ARTICLE FORTY-FOUR OF THE PUBLIC HEALTH
 LAW, AN INSTITUTION OF HIGHER EDUCATION CERTIFIED  PURSUANT  TO  SECTION
 ONE  THOUSAND  ONE  HUNDRED TWENTY-FOUR OF THIS CHAPTER, OR THE NEW YORK
 STATE HEALTH INSURANCE PLAN ESTABLISHED PURSUANT TO  ARTICLE  ELEVEN  OF
 THE CIVIL SERVICE LAW; OR
   (2)  A  PHARMACY BENEFIT MANAGER, INCLUDING AN ENTITY THAT DIRECTLY OR
 THROUGH AN INTERMEDIARY, MANAGES THE PRESCRIPTION DRUG COVERAGE PROVIDED
 BY A HEALTH INSURER UNDER A CONTRACT OR POLICY DELIVERED OR  ISSUED  FOR
 DELIVERY IN THIS STATE OR A HEALTH PLAN SUBJECT TO SECTION THREE HUNDRED
 SIXTY-FOUR-J  OF  THE  SOCIAL SERVICES LAW, INCLUDING THE PROCESSING AND
 PAYMENT OF CLAIMS FOR PRESCRIPTION DRUGS, THE PERFORMANCE OF DRUG UTILI-
 ZATION REVIEW, THE PROCESSING OF DRUG PRIOR AUTHORIZATION REQUESTS,  THE
 ADJUDICATION  OF  APPEALS  OR  GRIEVANCES  RELATED  TO PRESCRIPTION DRUG
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD00641-01-3

 S. 599                              2
 
 COVERAGE, CONTRACTING WITH NETWORK PHARMACIES, AND CONTROLLING THE  COST
 OF COVERED PRESCRIPTION DRUGS.
   (B)  (1) A MANUFACTURER OF A PRESCRIPTION DRUG WITH A WHOLESALE ACQUI-
 SITION COST OF MORE THAN FORTY DOLLARS FOR A  COURSE  OF  THERAPY  SHALL
 NOTIFY THE SUPERINTENDENT, HIS OR HER DEPUTY OR OTHER OFFICER DESIGNATED
 BY THE SUPERINTENDENT, IF THE INCREASE IN THE WHOLESALE ACQUISITION COST
 OF  SUCH  PRESCRIPTION  DRUG  IS  MORE  THAN  TEN PERCENT, INCLUDING THE
 PROPOSED INCREASE AND THE CUMULATIVE INCREASES THAT OCCURRED WITHIN  THE
 PREVIOUS  TWENTY-FOUR MONTHS. FOR PURPOSES OF THIS SECTION, A "COURSE OF
 THERAPY" IS DEFINED AS EITHER OF THE FOLLOWING:
   (I) THE RECOMMENDED DAILY DOSAGE UNITS OF A PRESCRIPTION DRUG PURSUANT
 TO ITS PRESCRIBING LABEL AS APPROVED BY THE FEDERAL FOOD AND DRUG ADMIN-
 ISTRATION FOR THIRTY DAYS; OR
   (II) THE RECOMMENDED DAILY DOSAGE UNITS OF A PRESCRIPTION DRUG  PURSU-
 ANT  TO  ITS  PRESCRIBING LABEL AS APPROVED BY THE FEDERAL FOOD AND DRUG
 ADMINISTRATION FOR A NORMAL COURSE OF TREATMENT THAT IS LESS THAN THIRTY
 DAYS.
   (2) (I) THE NOTICE REQUIRED BY PARAGRAPH (1) OF THIS SUBSECTION  SHALL
 BE  PROVIDED  IN WRITING TO THE SUPERINTENDENT AT LEAST SIXTY DAYS PRIOR
 TO THE PLANNED EFFECTIVE DATE OF THE  INCREASE  AND  SHALL  INCLUDE  THE
 PROPOSED  INCREASE AND THE CUMULATIVE INCREASES THAT OCCURRED WITHIN THE
 PREVIOUS TWENTY-FOUR MONTHS.
   (II) THE SUPERINTENDENT SHALL FORTHWITH PUBLISH THE NOTICE REQUIRED BY
 PARAGRAPH (A)  OF  THIS  SUBDIVISION  ON  THE  DEPARTMENT  OF  FINANCIAL
 SERVICES WEBSITE WITHIN FIVE DAYS OF ITS RECEIPT.
   (3)  (I) THE NOTICE REQUIRED BY PARAGRAPH (1) OF THIS SUBSECTION SHALL
 INCLUDE THE DATE OF THE INCREASE, THE CURRENT WHOLESALE ACQUISITION COST
 OF THE PRESCRIPTION DRUG, AND THE DOLLAR AMOUNT OF THE  FUTURE  INCREASE
 IN THE WHOLESALE ACQUISITION COST OF THE PRESCRIPTION DRUG.
   (II)  THE  NOTICE  REQUIRED  BY PARAGRAPH (1) OF THIS SUBSECTION SHALL
 INCLUDE A STATEMENT REGARDING WHETHER A CHANGE  OR  IMPROVEMENT  IN  THE
 DRUG  NECESSITATES  THE  PRICE  INCREASE.  IF SO, THE MANUFACTURER SHALL
 DESCRIBE THE CHANGE OR IMPROVEMENT.
   (4) INFORMATION SUPPLIED BY A MANUFACTURER PURSUANT  TO  THIS  SECTION
 THAT  THE MANUFACTURER HAS DESIGNATED AS A TRADE SECRET SHALL BE CONSID-
 ERED CONFIDENTIAL AND A TRADE SECRET AND SHALL NOT BE DISCLOSED DIRECTLY
 OR INDIRECTLY  BY  THE  SUPERINTENDENT.  NOTWITHSTANDING  THE  FOREGOING
 SENTENCE,  THE SUPERINTENDENT SHALL BE PERMITTED TO DISCLOSE INFORMATION
 IN AN AGGREGATED FORMAT IF SUCH AGGREGATE INFORMATION CANNOT DIRECTLY OR
 INDIRECTLY BE USED TO IDENTIFY TRADE SECRET  INFORMATION  RELATED  TO  A
 SPECIFIC MANUFACTURER OR THE MANUFACTURER'S PRESCRIPTION DRUG, INCLUDING
 BUT  NOT  LIMITED TO ANY INFORMATION RELATED TO PRICING FOR THE MANUFAC-
 TURER'S PRESCRIPTION DRUG THAT HAS BEEN DESIGNATED AS A TRADE SECRET.
   (5) IN THE EVENT THAT A MANUFACTURER OF A PRESCRIPTION DRUG SUBJECT TO
 THIS SECTION DOES NOT REPORT THE INFORMATION REQUIRED IN  PARAGRAPH  (1)
 OF  THIS  SUBSECTION,  THE  SUPERINTENDENT  IS  AUTHORIZED TO IMPOSE ANY
 PENALTY OR REMEDY AUTHORIZED BY THIS CHAPTER, AFTER NOTICE AND  A  HEAR-
 ING,  AGAINST  SUCH  MANUFACTURER OF UP TO FIVE THOUSAND DOLLARS PER DAY
 FOR EVERY DAY AFTER THE REPORTING PERIOD DESCRIBED IN THIS SECTION  THAT
 THE REQUIRED INFORMATION IS NOT REPORTED.
   § 2. This act shall take effect immediately.

co-Sponsors

2023-S599A (ACTIVE) - Details

See Assembly Version of this Bill:: A1707
Law Section:: Insurance Law
Laws Affected:: Add §111-a, Ins L
Versions Introduced in Other Legislative Sessions:: 2019-2020: S5942, A8253
2021-2022: S7499, A663

2023-S599A (ACTIVE) - Summary

Requires certain manufacturers of prescription drugs to notify the superintendent of any proposed increase of the wholesale acquisition cost of such prescription drugs.

2023-S599A (ACTIVE) - Sponsor Memo

                                 
BILL NUMBER: S599A

SPONSOR: SALAZAR
 
TITLE OF BILL:

An act to amend the insurance law, in relation to requiring certain
manufacturers of prescription drugs to notify the superintendant of any
proposed increase of the wholesale acquisition cost of such prescription
drugs

 
PURPOSE:

This bill would require manufacturers to provide at least 60 day notice
Of their intent to raise wholesale prescription drug costs to the
Department of Financial Services if the increase is 10% or more of the
total cost of the drug.

 
SUMMARY OF PROVISIONS:

Section 1 amends the insurance law to add new section 111-a relating to
notification of prescription drug price increases by manufacturers.

Section 2 provides the effective date.

 
JUSTIFICATION:

This legislation will provide early warning of increases in the price of
prescription drugs. Breakthrough medications offer tremendous clinical
benefits for patients, but they should not be a blank check.  The prices
charged for prescription drugs are a major threat to keeping health care
affordable for New York employers and consumers.  Exorbitant increases
in prescription drug prices have been consistent across all segments of
the pharmaceutical industry. For example, in 2016 Mylan increased the
price for a package of two EpiPen Auto-Injectors from just over $100 to
more than $600 without any warning or public justification. Since the
start of 2019, more than two dozen drug makers have raised the prices on
a wide array of drugs by double-digit percentages.

The bill will not prohibit manufacturers from increasing prices, but
would require notice of price increases, enhancing transparency of
prescription drug costs. Providing notice before a price increase of
more than 16 percent takes effect is important so that consumers,
employers, providers, health plans and the state are prepared and can
take steps before. the increase is implemented. It would also be impor-
tant for the policymakers to be provided with the rationale for the
increase including whether the price increases will benefit the public
to help fund research and development that improve patient care or will
it merely result in increasing the cost of health care.

 
AMENDED BILL

The "A" print of the bill increases the threshold percentage increase
from 10% to 16% and clarifies the applicability of the Freedom of Infor-
mation Law.

 
LEGISLATIVE HISTORY:

SENATE:

2019-2020: S5942 (Salazar) - Referred to Health

2021: S7499E (Salazar) - Referred to Rules

2022: Referred to Health, Passed Senate

2023: S 599 (Salazar) Passed Senate

 
FISCAL IMPLICATIONS:

None.

 
EFFECTIVE DATE:
This act shall take effect immediately.

2023-S599A (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  599--A
     Cal. No. 75
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                              January 5, 2023
                                ___________
 
 Introduced by Sens. SALAZAR, ADDABBO, LIU, MAY -- read twice and ordered
   printed,  and  when printed to be committed to the Committee on Health
   -- reported favorably from said committee and committed to the Commit-
   tee on Rules -- reported favorably from said committee, ordered  to  a
   third  reading,  passed  by  Senate  and  delivered  to  the Assembly,
   recalled, vote reconsidered, restored to third  reading,  amended  and
   ordered reprinted, retaining its place in the order of third reading
 
 AN  ACT  to  amend  the  insurance law, in relation to requiring certain
   manufacturers of prescription drugs to notify  the  superintendant  of
   any  proposed  increase  of  the  wholesale  acquisition  cost of such
   prescription drugs
 
   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 111-a
 to read as follows:
   § 111-A. NOTIFICATION OF PRESCRIPTION DRUG PRICE INCREASES BY MANUFAC-
 TURERS. (A) THIS SECTION SHALL APPLY TO A MANUFACTURER OF A PRESCRIPTION
 DRUG THAT IS PURCHASED OR REIMBURSED IN THIS STATE BY ANY OF THE FOLLOW-
 ING:
   (1) AN INSURANCE COMPANY AUTHORIZED IN THIS STATE  TO  WRITE  ACCIDENT
 AND  HEALTH  INSURANCE,  A  COMPANY ORGANIZED PURSUANT TO ARTICLE FORTY-
 THREE OF THIS CHAPTER,  A  MUNICIPAL  COOPERATIVE  HEALTH  BENEFIT  PLAN
 ESTABLISHED  PURSUANT  TO ARTICLE FORTY-SEVEN OF THIS CHAPTER, AN ORGAN-
 IZATION CERTIFIED PURSUANT TO ARTICLE FORTY-FOUR OF  THE  PUBLIC  HEALTH
 LAW,  AN  INSTITUTION  OF HIGHER EDUCATION CERTIFIED PURSUANT TO SECTION
 ONE THOUSAND ONE HUNDRED TWENTY-FOUR OF THIS CHAPTER, OR  THE  NEW  YORK
 STATE  HEALTH  INSURANCE  PLAN ESTABLISHED PURSUANT TO ARTICLE ELEVEN OF
 THE CIVIL SERVICE LAW; OR
   (2) A PHARMACY BENEFIT MANAGER, INCLUDING AN ENTITY THAT  DIRECTLY  OR
 THROUGH AN INTERMEDIARY, MANAGES THE PRESCRIPTION DRUG COVERAGE PROVIDED
 BY  A  HEALTH INSURER UNDER A CONTRACT OR POLICY DELIVERED OR ISSUED FOR
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD00641-03-3
 S. 599--A                           2
 
 DELIVERY IN THIS STATE OR A HEALTH PLAN SUBJECT TO SECTION THREE HUNDRED
 SIXTY-FOUR-J OF THE SOCIAL SERVICES LAW, INCLUDING  THE  PROCESSING  AND
 PAYMENT OF CLAIMS FOR PRESCRIPTION DRUGS, THE PERFORMANCE OF DRUG UTILI-
 ZATION  REVIEW, THE PROCESSING OF DRUG PRIOR AUTHORIZATION REQUESTS, THE
 ADJUDICATION OF APPEALS  OR  GRIEVANCES  RELATED  TO  PRESCRIPTION  DRUG
 COVERAGE,  CONTRACTING WITH NETWORK PHARMACIES, AND CONTROLLING THE COST
 OF COVERED PRESCRIPTION DRUGS.
   (B) (1) A MANUFACTURER OF A PRESCRIPTION DRUG WITH A WHOLESALE  ACQUI-
 SITION  COST  OF  MORE  THAN FORTY DOLLARS FOR A COURSE OF THERAPY SHALL
 NOTIFY THE SUPERINTENDENT, HIS OR HER DEPUTY OR OTHER OFFICER DESIGNATED
 BY THE SUPERINTENDENT, IF THE INCREASE IN THE WHOLESALE ACQUISITION COST
 OF SUCH PRESCRIPTION DRUG IS MORE THAN SIXTEEN  PERCENT,  INCLUDING  THE
 PROPOSED  INCREASE AND THE CUMULATIVE INCREASES THAT OCCURRED WITHIN THE
 PREVIOUS TWENTY-FOUR MONTHS PRIOR TO THE PLANNED EFFECTIVE DATE  OF  THE
 INCREASE.    FOR  PURPOSES  OF  THIS  SECTION,  A "COURSE OF THERAPY" IS
 DEFINED AS EITHER OF THE FOLLOWING:
   (I) THE RECOMMENDED DAILY DOSAGE UNITS OF A PRESCRIPTION DRUG PURSUANT
 TO ITS PRESCRIBING LABEL AS APPROVED BY THE FEDERAL FOOD AND DRUG ADMIN-
 ISTRATION FOR THIRTY DAYS; OR
   (II) THE RECOMMENDED DAILY DOSAGE UNITS OF A PRESCRIPTION DRUG  PURSU-
 ANT  TO  ITS  PRESCRIBING LABEL AS APPROVED BY THE FEDERAL FOOD AND DRUG
 ADMINISTRATION FOR A NORMAL COURSE OF TREATMENT THAT IS LESS THAN THIRTY
 DAYS.
   (2) (I) THE NOTICE REQUIRED BY PARAGRAPH ONE OF THIS SUBSECTION  SHALL
 BE  PROVIDED  IN WRITING TO THE SUPERINTENDENT AT LEAST SIXTY DAYS PRIOR
 TO THE PLANNED EFFECTIVE DATE OF THE  INCREASE  AND  SHALL  INCLUDE  THE
 PROPOSED  INCREASE AND THE CUMULATIVE INCREASES THAT OCCURRED WITHIN THE
 PREVIOUS TWENTY-FOUR MONTHS.
   (II) THE SUPERINTENDENT SHALL FORTHWITH PUBLISH THE NOTICE REQUIRED BY
 PARAGRAPH ONE OF THIS SUBSECTION ON THE DEPARTMENT OF FINANCIAL SERVICES
 WEBSITE WITHIN FIVE DAYS OF ITS RECEIPT.
   (3) (I) THE NOTICE REQUIRED BY PARAGRAPH ONE OF THIS SUBSECTION  SHALL
 INCLUDE THE DATE OF THE INCREASE, THE CURRENT WHOLESALE ACQUISITION COST
 OF  THE  PRESCRIPTION DRUG, AND THE DOLLAR AMOUNT OF THE FUTURE INCREASE
 IN THE WHOLESALE ACQUISITION COST OF THE PRESCRIPTION DRUG.
   (II) THE NOTICE REQUIRED BY PARAGRAPH ONE  OF  THIS  SUBSECTION  SHALL
 INCLUDE  A  STATEMENT  REGARDING  WHETHER A CHANGE OR IMPROVEMENT IN THE
 DRUG NECESSITATES THE PRICE INCREASE.  IF  SO,  THE  MANUFACTURER  SHALL
 DESCRIBE THE CHANGE OR IMPROVEMENT.
   (4)  INFORMATION  SUPPLIED  BY A MANUFACTURER PURSUANT TO THIS SECTION
 THAT THE MANUFACTURER HAS REASONABLY DESIGNATED AS A TRADE SECRET  SHALL
 BE  CONSIDERED  CONFIDENTIAL  AND  A  TRADE SECRET, SHALL BE EXEMPT FROM
 PUBLIC DISCLOSURE AND COPYING UNDER ARTICLE SIX OF THE  PUBLIC  OFFICERS
 LAW AND SHALL NOT BE DISCLOSED DIRECTLY OR INDIRECTLY BY THE SUPERINTEN-
 DENT.  NOTWITHSTANDING  THE FOREGOING SENTENCE, THE SUPERINTENDENT SHALL
 BE PERMITTED TO DISCLOSE INFORMATION IN AN  AGGREGATED  FORMAT  IF  SUCH
 AGGREGATE  INFORMATION CANNOT DIRECTLY OR INDIRECTLY BE USED TO IDENTIFY
 TRADE SECRET INFORMATION RELATED  TO  A  SPECIFIC  MANUFACTURER  OR  THE
 MANUFACTURER'S  PRESCRIPTION  DRUG,  INCLUDING  BUT  NOT  LIMITED TO ANY
 INFORMATION RELATED TO PRICING FOR THE MANUFACTURER'S PRESCRIPTION  DRUG
 THAT HAS BEEN REASONABLY DESIGNATED AS A TRADE SECRET.
   (5) IN THE EVENT THAT A MANUFACTURER OF A PRESCRIPTION DRUG SUBJECT TO
 THIS  SECTION  DOES NOT REPORT THE INFORMATION REQUIRED IN PARAGRAPH ONE
 OF THIS SUBSECTION, THE  SUPERINTENDENT  IS  AUTHORIZED  TO  IMPOSE  ANY
 PENALTY  OR  REMEDY AUTHORIZED BY THIS CHAPTER, AFTER NOTICE AND A HEAR-
 ING, AGAINST SUCH MANUFACTURER OF UP TO FIVE THOUSAND  DOLLARS  PER  DAY
 S. 599--A                           3
 
 FOR  EVERY DAY AFTER THE REPORTING PERIOD DESCRIBED IN THIS SECTION THAT
 THE REQUIRED INFORMATION IS NOT REPORTED.
   § 2. This act shall take effect on the one hundred eightieth day after
 it shall have become a law.

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Senate Bill S599

Share this bill

Sponsored By

Current Bill Status Via A1707 - Passed Senate

Bill Amendments

co-Sponsors

2023-S599 - Details

2023-S599 - Summary

2023-S599 - Sponsor Memo

2023-S599 - Bill Text download pdf

co-Sponsors

2023-S599A (ACTIVE) - Details

2023-S599A (ACTIVE) - Summary

2023-S599A (ACTIVE) - Sponsor Memo

2023-S599A (ACTIVE) - Bill Text download pdf

Comments