2005 Regular Session
To: Public Health and Human Services
By: Representative Franks
AN ACT TO CREATE THE DRUG RETAIL PRICE DISCLOSURE ACT; TO REQUIRE PHARMACIES TO COMPILE A DRUG RETAIL PRICE LIST THAT CONTAINS THE NAMES OF THE DRUGS ON THE LIST PROVIDED BY THE STATE BOARD OF PHARMACY AND THE PHARMACY'S CORRESPONDING RETAIL PRICES FOR EACH DRUG; TO REQUIRE THE STATE BOARD OF PHARMACY TO MAKE THE LIST AVAILABLE TO EACH PHARMACY; TO REQUIRE PHARMACIES TO NOTIFY PEOPLE OF THE AVAILABILITY OF THE DRUG RETAIL PRICE LIST; TO REQUIRE THE STATE BOARD OF PHARMACY TO PROMULGATE RULES AND REGULATIONS FOR THE IMPLEMENTATION OF THIS ACT; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. (1) This section shall be known as the "Drug Retail Price Disclosure Act."
(2) As used in this section, the following terms shall have the following meanings:
(a) "Pharmacy" shall be defined under Section 73-21-73.
(b) "Pharmacy's corresponding retail price" means the actual price to be paid by a retail purchaser to the pharmacy for any listed drug at the listed dosage.
(3) Every pharmacy shall compile a drug retail price list that contains the names of the drugs on the list provided by the State Board of Pharmacy and the pharmacy's corresponding retail prices for each drug. Every pharmacy shall update its retail prices for each drug on the list on a weekly basis. Every pharmacy shall provide the drug retail list to anyone upon request.
(4) (a) The list of the names of drugs provided by the State Board of Pharmacy shall be prepared annually by the board and distributed to each pharmacy in the state. The list shall be a compendium of the thirty (30) most frequently prescribed drugs and their usual dosages for which a prescription is required by the provisions of the Federal Food, Drug and Cosmetic Act, 21 USCS 301 et. seq. The State Board of Pharmacy shall make the compendium list available to each pharmacy, at no cost to the pharmacy, in both printed form and in an electronic form so that it may be used to produce the pharmacy's drug retail list.
(b) The drug retail price list shall contain a notice that shall read: "Consult your pharmacist for the selection of the most economical drug product available to fill your prescription."
(5) (a) Pharmacies shall have a sign notifying people of the availability of the drug retail price list, conspicuously posted at or adjacent to the place in the pharmacy where prescriptions are presented for compounding and dispensing, in the waiting area for customers, or in the area where prescribed drugs are delivered.
(b) The sign shall contain the following information:
(i) Under the Drug Retail Disclosure Act, pharmacies must provide a list of prices of the most frequently prescribed medications;
(ii) Generics must be included on the list, where available; and
(iii) Prices for medications may vary between the pharmacies.
(6) Nothing contained in this section shall prohibit a pharmacy from changing and charging the current retail price at any time, provided that the listed price is updated weekly to reflect the new retail price.
(7) The State Board of Pharmacy shall promulgate rules and regulations necessary to implement this section, including how this section applies to mail-order and Internet pharmacies.
SECTION 2. This act shall take effect and be in force from and after July 1, 2005.