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 and will require the state to obtain approval and certification from the U.S. Department of Health and Human Services before implementation. Key design elements include the designation of a state agency as a licensed drug wholesaler, the use of Canadian suppliers regulated under Canadian law, and the assurance that only FDA-approved drugs that are expected to generate substantial savings will be imported. Additionally, the program will prohibit the distribution, dispensing, or sale of imported drugs outside of Rhode Island.

The bill outlines specific requirements for the program's implementation, including the establishment of contracts with licensed distributors and Canadian suppliers, consultation with health insurance carriers, employers, pharmacies, health care providers, and consumers, and the creation of a publicly accessible website for listing the prices of prescription drugs to be imported under the program. It mandates the development of an outreach and marketing plan to generate public awareness and the provision of a telephone hotline to address questions and needs of affected parties.

The program is required to begin operation no later than six months after receiving federal approval, and it includes an annual reporting requirement to the state legislature starting January 1, 2027. This report will cover the implementation and operation of the program, including details on the prescription drugs included, the number of participating pharmacies and health care providers, the number of drugs dispensed, estimated cost savings, and audit findings.