OR| The Notice outlines updates to Oregon’s Prescription Drug Price Transparency Program under the Department of Consumer and Business Services, Insurance Regulation, effective April 1, 2025. Key changes include revised definitions, reporting requirements, and compliance expectations for drug manufacturers. The updates aim to enhance accountability and transparency in drug pricing while addressing statutory and regulatory changes.
Main Points:
- Expanded Definitions and Reporting Requirements: New definitions (e.g., “dosage,” “new prescription drug”) clarify reporting criteria. Manufacturers must now detail price increases, marketing costs, and public funding contributions for drugs exceeding specified price thresholds.
- Compliance and Penalties: Civil penalties for non-compliance have been updated, with fines ranging from $500 to $10,000 per day for violations such as late reports or incomplete data submissions. Good faith efforts are emphasized for accurate reporting.
- Public Disclosure and Consumer Protections: The program mandates timely public posting of drug pricing data, establishes consumer reporting mechanisms for price increases, and requires transparency in trade secret claims.
