Bill No. 1380 establishes the Insulin Access and Affordability Program within the State Department of Health in Oklahoma. The primary goals of this 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 that ensure the availability of fast-acting biosimilar insulin at specified price points, estimate savings for Oklahoma residents, and outline matching funds provided by these organizations. The act is set to take effect on July 1, 2025, and includes an emergency clause for immediate implementation upon passage and approval.