The bill introduces a new chapter titled "Defending Affordable Prescription Drug Costs Act" to Title 5 of the General Laws, aimed at protecting 340B entities from discriminatory practices by health insurers, pharmacy benefit managers (PBMs), and other third-party payors. It defines relevant terms and prohibits actions such as reimbursing 340B entities at lower rates than non-340B entities for the same drugs, imposing different terms or conditions, and discriminating against 340B entities in ways that interfere with patient choice or impose additional burdens. The bill also specifies that these provisions do not apply to the Medicaid program as a payor.

Furthermore, the bill prevents pharmaceutical manufacturers and wholesalers from denying or interfering with the acquisition or delivery of 340B drugs to pharmacies contracted with a 340B entity, unless prohibited by the U.S. Department of Health and Human Services. Violations of these provisions will be considered a violation of the Rhode Island Deceptive Trade Practices Act, with applicable penalties, but no private or class actions can be brought under this act. The bill ensures that its provisions align with federal law and clarifies that limited drug distribution required under federal law is not a violation. The act will take effect upon passage.