This bill allows for the importation of prescription drugs from specific foreign countries, primarily Canada and any other nations that meet high regulatory standards as determined by the Commissioner of Health. The Commissioner is tasked with establishing a wholesale prescription drug importation program that adheres to federal regulations, ensuring that only safe and effective drugs that can provide significant cost savings to New Jersey consumers are imported. The program will involve designating entities that will either become wholesale distributors or contract with them to seek federal certification for importing these drugs.

Entities involved in the program will be required to engage with licensed suppliers from the designated foreign countries, develop a registration process for health benefits plans and pharmacies, and create a publicly accessible price listing for imported drugs. Additionally, they must implement outreach initiatives, establish a consumer hotline, and conduct biennial audits by an independent third party. The Commissioner will also seek necessary federal approvals to maximize the benefits of the program for state consumers. The bill is set to take effect 30 days after its enactment.