The bill amends Arkansas Code 17-92-507 to clarify that pharmacies, pharmacists, or businesses providing pharmacy services have the right to pursue a private right of action for violations related to maximum allowable cost lists. This new provision allows these entities to seek remedies such as compensatory damages, actual financial losses, and punitive damages under various acts, including the Deceptive Trade Practices Act, the Arkansas Pharmacy Benefits Manager Licensure Act, and the Trade Practices Act.

Additionally, the bill stipulates that a prevailing party in such actions may recover attorney's fees and all costs incurred. It also establishes that pharmacies or businesses pursuing violations under the Trade Practices Act can recover statutory damages of $10,000 per violation. Importantly, the private right of action does not allow for lawsuits against any government, governmental agency, or governmental official.

Statutes affected:
Old version SB583 V2 - 4-3-2025 09:22 AM: 17-92-507
Old version SB583 Original - 3-31-2025 12:51 PM: 17-92-507
SB 583: 17-92-507
Act 990: 17-92-507