The bill establishes a new section in Florida law, specifically section 409.9067, which mandates that drug manufacturers, pharmacy benefits managers, and drug wholesalers must sell certain drugs to Medicaid pharmacies at discounted prices under the 340B Drug Pricing Program. The drugs eligible for this pricing must be included on the Medicaid preferred drug list and be covered under the 340B program. Additionally, if a drug manufacturer sells a drug at a discounted price that exceeds the state Medicaid negotiated price, they are required to pay a rebate to the state. Pharmacy benefits managers must also compensate Medicaid pharmacies at the discounted price plus a professional dispensing fee for eligible drugs.

Furthermore, the bill prohibits drug wholesalers and distributors from altering their current pricing models in a way that would exempt these drugs from the discounted pricing requirements. It also restricts Medicaid pharmacies from selling the specified drugs at the 340B discounted prices to anyone other than Medicaid recipients. The act is set to take effect on January 1, 2026.