This bill proposes to amend the Arizona Revised Statutes by adding a new chapter focused on prescription drug pricing, specifically targeting "essential off-patent or generic drugs." It introduces definitions for terms such as "price gouging," "unconscionable increase," and "wholesale acquisition cost," which are essential for regulating the pricing of these drugs. The bill prohibits manufacturers and wholesale distributors from engaging in price gouging and outlines specific conditions under which price increases may be reported to the attorney general, particularly when they exceed a 50% increase in price over a one-year period.

Additionally, the bill establishes a framework for the attorney general to investigate and address violations of the new pricing regulations. This includes the ability to compel manufacturers to provide detailed cost breakdowns and justifications for price increases, as well as the authority to seek court orders to restrain violations, restore funds to consumers, and impose civil penalties. The bill also ensures that any information shared with the attorney general remains confidential unless the manufacturer waives that confidentiality. Overall, the proposed changes aim to enhance consumer protection against excessive drug pricing while maintaining a clear process for accountability.