The proposed General Assembly Substitute Bill No. 6870 seeks to establish a Canadian prescription drug importation program aimed at reducing prescription drug costs for patients in the state. The bill introduces new definitions such as "Canadian supplier," "participating wholesaler," and "recall," which clarify the roles of involved entities. It mandates the Commissioner of Consumer Protection to conduct a feasibility study by October 1, 2027, to evaluate the program's viability, with the potential to request federal approval from the FDA if deemed feasible. The bill outlines conditions for wholesalers regarding drug importation, ensuring compliance with federal safety standards and prohibiting the importation of controlled substances and biological products. Additionally, it emphasizes track-and-trace requirements for accountability and safety in drug distribution.

The bill also introduces regulations to control prescription drug pricing, prohibiting pharmaceutical manufacturers and wholesale distributors from selling identified drugs above a defined "reference price" effective January 1, 2026. It establishes civil penalties for violations and outlines enforcement mechanisms, including the authority for the commissioner to examine records and impose penalties. Furthermore, the bill includes provisions for the withdrawal of drugs from sale, requiring advance notice to avoid penalties, and mandates health carriers to credit insured individuals for out-of-pocket expenses for out-of-network prescription drugs under certain conditions. Overall, the bill aims to enhance drug affordability and accountability within the pharmaceutical industry while ensuring patient safety and access to necessary medications.