Vote Smart's Synopsis:

Vote to pass a bill that requires increased transparency in prescription drug costs in the state of New Mexico.

Highlights:

• Requires each pharmacy services administrative organization to submit data to a superintendent that includes the following (Sec. 4):

• Negotiated reimbursement rate;

• 25 prescription drug products with the highest year-to-year percentage change in reimbursement and an additional twenty-five based on its dollar amount; 

• The schedule of fees charged to pharmacies for services. 

• Requires the superintendent to submit the legislative finance committee and the legislative health and human services committee a detailed report containing: (Sec. 7). 

• Market trends for prescription drug products across the state; 

• Impact of prescription drug product prices;

• Geographic and demographic populations in the state most affected by high prescription drug costs; and

• Any further recommendations the superintendent has for action or legislation. 

• Requires the superintendent to hold an annual public meeting focused on discussing the details of their aforementioned report (Sec. 7). 

• Authorizes the superintendent to audit the data they have collected from a manufacturer and requires the entity that submitted it to pay all costs associated with it (Sec. 8).

Full Bill Text