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 United States Department of Health and Human Services before implementation. Key design elements include the designation of a state agency as a licensed drug wholesaler or contracting with 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, the provision of a consumer hotline, and the creation of a two-year audit work plan. Furthermore, beginning January 1, 2028, the executive office of health and human services, or another designated state agency, will be required to report annually to the speaker of the house and president of the senate on the program's implementation and operation, including details on participating entities, the number of prescription drugs dispensed, and estimated cost savings. The act will take effect upon passage.