The bill, known as "The Prescription Drug Sales Representative Disclosure Act," seeks to regulate the pharmaceutical industry by mandating transparency in the marketing of prescription drugs. It requires pharmaceutical manufacturers to register their sales representatives with the Department of Business Regulation and to disclose certain information annually. The bill stipulates that manufacturers must provide an updated list of their sales representatives, and those not listed are prohibited from marketing prescription drugs. Sales representatives are also required to report any compensation or gifts given to healthcare providers that exceed specified thresholds. The Department is tasked with analyzing and reporting on these disclosures. Additionally, the bill imposes an annual fee for each sales representative listed and sets forth civil penalties of up to $10,000 per violation for non-compliance. The act is scheduled to take effect on January 1, 2025.

Key insertions in the bill include the requirement for manufacturers to register their sales representatives and the obligation for sales representatives to report compensation or gifts to healthcare providers. The bill also introduces the imposition of an annual fee for each sales representative and outlines the penalties for failing to comply with the act's provisions. There are no specific deletions from current law indicated in the summary provided. The bill aims to provide greater understanding of the factors influencing prescription drug costs by scrutinizing the activities of pharmaceutical sales representatives.