The proposed bill establishes a Wholesale Prescription Drug Importation Program in Rhode Island, aimed at allowing the wholesale importation of prescription drugs from Canada to provide cost savings for consumers. The program will be designed in compliance with federal regulations, specifically 21 U.S.C. § 384, and will require the state to obtain approval and certification from the United States Department of Health and Human Services before implementation. Key provisions include the designation of a state agency as a licensed drug wholesaler, the use of regulated Canadian suppliers, and the assurance that only FDA-approved drugs that are expected to generate significant savings will be imported. Additionally, the program will prohibit the distribution or sale of imported drugs outside of Rhode Island.

The bill outlines specific design requirements for the program, including the establishment of a registration process for participating health insurance carriers and pharmacies, the creation of a publicly accessible website for drug pricing, and the development of an outreach plan to raise public awareness. It mandates annual reporting on the program's implementation and operation, detailing the drugs included, the number of participating entities, and estimated cost savings. The act will take effect upon passage, with the executive office of health and human services required to submit a request for federal approval by May 1, 2026, and to implement the program within six months of receiving that approval.