The bill proposes the establishment of the Wholesale Prescription Drug Importation Program, which aims to facilitate the importation of prescription drugs from Canada on a wholesale basis to provide cost savings to consumers in the state. The program is contingent upon approval and certification from the United States Department of Health and Human Services and must comply with federal requirements, including those related to safety and cost savings. The program design includes the designation of a state agency to oversee the program, the use of Canadian prescription drug suppliers, ensuring imported drugs meet FDA standards, importing drugs that offer substantial cost savings, and prohibiting the sale of these drugs outside the state. The program also includes provisions for financing, public awareness, a website for drug prices, a hotline for inquiries, and an audit function.

The bill requires the executive office of health and human services to design the program by January 1, 2025, and to request federal approval by May 1, 2025. Upon federal approval, the designated state agency must implement the program within six months, including obtaining necessary licenses, contracting with distributors and Canadian suppliers, consulting with various stakeholders, and developing a registration process for participants. An annual report starting January 2026 will detail the program's implementation, operation, participating entities, number of drugs dispensed, cost savings, audit findings, and other relevant information. The act will take effect upon passage.