The proposed bill amends Arizona Revised Statutes by adding a new chapter that establishes regulations regarding the pricing of prescription drugs. It defines key terms such as "maximum fair price," "price applicability period," and "referenced drug," which refers to drugs subject to a maximum fair price set by the U.S. Secretary of Health and Human Services. The bill prohibits individuals or entities from paying or seeking reimbursement for referenced drugs at prices exceeding the maximum fair price during the specified period.

Additionally, the bill introduces enforcement mechanisms for violations of these pricing regulations. It designates violations as unlawful practices, allowing the Attorney General to investigate and take action. Furthermore, it grants individuals harmed by such violations the right to pursue private actions for consumer fraud, thereby enhancing consumer protection in the pharmaceutical market. This represents a significant shift from current law by explicitly establishing price limits and enforcement measures for prescription drugs.

Statutes affected:
Introduced Version: