The bill establishes a new section, 465.191, in the Florida Statutes, specifically addressing compounding pharmacies. It defines key terms such as "chronically ill patient," "terminally ill patient," and "compounding pharmacy," and authorizes these patients to work with their healthcare providers to determine individualized treatment plans using medications from compounding pharmacies. Additionally, it allows licensed compounding pharmacies to access certain active pharmaceutical ingredients that lack a formal monograph, provided they are sourced from FDA-registered manufacturers and comply with quality specifications.

Furthermore, the bill outlines restrictions on the use of active pharmaceutical ingredients that have been withdrawn for safety reasons or are listed as category II or III by the FDA. It explicitly states that the provisions do not permit any treatment intended to cause a patient's death. The act is set to take effect on July 1, 2025.