Senate Bill No. [insert number] introduced by Senator Bass aims to regulate prescription drug pricing in Louisiana by enacting R.S. 22:1867.1. The bill stipulates that pharmaceutical manufacturers are prohibited from offering drugs at prices higher than those set by Medicare for the same drugs. Additionally, it mandates that insurers and pharmacy benefit managers cannot reimburse for any name brand, biosimilar, or generic drugs at prices lower than what Medicare pays.

The enforcement of these provisions will be overseen by the commissioner, who is also tasked with creating any necessary rules and regulations to implement the law. This legislation is set to take effect on January 1, 2027.