This bill aims to enhance transparency and accountability within the federal 340B drug pricing program by requiring manufacturers, wholesalers, and wholesale distributor-brokers to report specific information regarding the acquisition and pricing of 340B drugs. Key provisions include a mandate for manufacturers to submit annual reports detailing prescription drugs that exceed a certain cost threshold and have experienced significant price increases. Additionally, hospitals participating in the 340B program must ensure that savings are reinvested into patient services or community benefit programs, and they are required to report on their financial activities related to the program.

The bill also establishes civil penalties for violations, allowing the Department of Licensing and Regulatory Affairs to notify individuals of infractions and provide an opportunity for correction before referring cases to the Attorney General for enforcement. Violators may face fines of up to $500, with each day of continued violation counted as a separate offense. Furthermore, the Department is empowered to create rules to facilitate the implementation of this act, ensuring that the provisions are effectively enforced and monitored.