Bill No. 1380 establishes the Insulin Access and Affordability Program within the State Department of Health in Oklahoma. The primary goals of the program are to enhance competition in the marketplace, reduce insulin prices, and address shortages of generic prescription drugs. It aims to lower the cost of prescription drugs for both public and private purchasers, taxpayers, and consumers, thereby increasing patient access to affordable medications in the state.

To implement this program, the State Department of Health is authorized to enter into agreements with nonprofit pharmaceutical companies to expedite the development and accessibility of fast-acting insulin. Additionally, the department can form partnerships with nonprofit organizations to set performance objectives for the availability of affordable biosimilar insulin, with specific price caps established at $30 per vial and $55 for a pack of five pre-filled insulin pens. The act is set to take effect on July 1, 2025, and includes an emergency clause for immediate implementation upon passage and approval.