The proposed General Assembly Substitute Bill No. 6870 seeks to establish a Canadian prescription drug importation program aimed at reducing prescription drug costs in the state, effective July 1, 2025. The bill defines key terms such as "Canadian supplier" and "participating wholesaler," and mandates the Commissioner of Consumer Protection to hire a consultant to assess the program's feasibility, with a report due by October 1, 2027. If feasible, the Commissioner may seek federal approval to implement the program, ensuring that imported drugs meet safety standards and comply with federal tracing procedures. Participating wholesalers will be allowed to import certain prescription drugs from Canada, provided they meet specific federal standards and do not include controlled substances. The bill also includes provisions for testing the authenticity of imported drugs and maintaining comprehensive records for a minimum of three years.

Additionally, the bill introduces new regulations for pharmaceutical manufacturers and wholesale distributors, including a prohibition on selling identified prescription drugs above a defined "reference price" starting 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. The bill also prohibits manufacturers from withdrawing drugs to evade penalties and mandates health carriers to credit insured individuals for out-of-pocket expenses incurred when purchasing prescription drugs from out-of-network providers. Overall, the bill aims to enhance accountability, compliance, and affordability within the pharmaceutical industry while promoting access to affordable healthcare for consumers.