Vote Smart's Synopsis:

Vote to pass a bill that increases price transparency for essential goods and services including prescription drugs, energy, subscription services, and groceries in New York.

Highlights:

• Requires each pharmaceutical manufacturer doing business in this state which manufactures a brand name prescription drug and enters into an agreement with another pharmaceutical manufacturer to delay the introduction of a generic substitute for that drug within 30 days of the agreement beginning to notify the attorney general and disclose the information of the agreement (Sec. 1).

• Requires the attorney general to, within 30 days after receiving that notice to disclose the information of the agreement to the drug utilization review board, all medicaid managed care plans, health carriers, and pharmacy benefits managers, which are doing business in the state (Sec. 1).

• Specifies that the attorney general shall post on its website all notices required by this section in a manner which is searchable by drug, cost, disease, and manufacturer both for the brand and the generic drug. (Sect.1)

• Establishes a fine of $5,000 each day for the first violation of this act, and $10,000 each day for any following violations (Sec. 1). 

Full Bill Text