VirginiaPrescription Drug Affordability Board; established.
What it does
Prescription Drug Affordability Advisory Panel established; maximum fair price; annual reports; civil penalties. Directs the Secretary of Health and Human Resources to establish the Prescription Drug Affordability Advisory Panel to conduct data analyses, develop policy recommendations, and identify implementation barriers related to strategies to improve prescription drug affordability, enhance price transparency, and strengthen data collection practices for prescription drugs across public and private payers. The bill requires the Panel to (i) report annually on prescription drug pricing trends and any policy recommendations on legislation to improve prescription drug affordability and (ii) provide quarterly updates on prescription drug pricing trends.
More detail
The bill requires each pharmacy benefits manager to provide to the Panel, upon request, certain information relating to the dispensation of a referenced drug, as defined in the bill.The bill prohibits prescription drug manufacturers or wholesale distributors permitted or licensed in the Commonwealth from accepting payment at an amount higher than the maximum fair price established by the U.S. Secretary of Health and Human Services pursuant to federal law for the sale of a referenced drug intended for use by individuals in the Commonwealth. Under the bill, an entity that violates such prohibition is subject to a civil penalty of $10,000 per violation. The bill also prohibits a manufacturer subject to its provisions from removing a referenced drug from sale distribution in the Commonwealth for the purpose of avoiding the impact of the bill's rate limitations without providing certain prior notice. Under the bill, a manufacturer that violates such prohibition on removing a referenced drug without the required notice is subject to a civil penalty equal to the greater of $100,000 or the total amount of annual savings for the referenced drug, as determined by the Board of Pharmacy. This bill is identical to HB 483.
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Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Apr 13Governor's recommendation received by SenateLatest
- Mar 31Governor's Action Deadline 11:59 p.m., April 13, 2026To Governor
- Mar 31Enrolled Bill communicated to Governor on March 31, 2026Minor
- Mar 31Signed by SpeakerMajor
- Mar 31Fiscal Impact Statement from Department of Planning and Budget (SB271)
- Mar 30Signed by PresidentMajor
- Mar 30Bill text as passed Senate and House (SB271ER)Major
- Mar 30EnrolledMinor
- Mar 23Fiscal Impact Statement from Department of Planning and Budget (SB271)
- Mar 11House substitute agreed to by SenateMajor
- Vote recorded Concur House Substitute R. Result: pass.Upper
- Mar 10Passed House with substitute (95-Y 4-N 0-A)Passed House
- Vote recorded H VOTE:. Result: pass.Lower
- Mar 10Engrossed by House - floor substitute
- Mar 10Delegate Delaney Floor substitute agreed toMajor
- Mar 10Delegate Delaney Floor amendments withdrawnMajor
- Mar 10Delegate Delaney Substitute withdrawn by HouseMajor
- Mar 10Read third timeMinor
- Mar 10Floor offered Delegate Delaney Substitute
- Mar 10Floor substitute printed 26109555D-H2 (Delaney)
- Mar 9Passed by for the day
- Mar 9Passed by temporarily
- Mar 9Read third timeMinor
- Mar 9Floor offered Delegate Delaney Amendments
- Mar 9Floor offered Delegate Delaney Substitute
- Mar 9Floor substitute printed 26109393D-H1 (Delaney)
- Mar 6Read second timeMinor
- Mar 4Reported from Appropriations (17-Y 5-N)Minor
- Vote recorded Reported from Appropriations. Result: pass.Lower
- Feb 12Referred to Committee on AppropriationsMinor
- Feb 12Read first timeMinor
- Feb 12Placed on Calendar
- Feb 11Assigned HAPP sub: Health & Human ResourcesMinor
- Feb 10Fiscal Impact Statement from Department of Planning and Budget (SB271)
- Feb 6Read third time and passed Senate (31-Y 8-N 0-A)Passed Senate
- Vote recorded Passage R. Result: pass.Upper
- Feb 5Engrossed by Senate as amended (Voice Vote)
- Feb 5Commerce and Labor Amendments agreed toMajor
- Feb 5Read second timeMinor
- Feb 4Passed by for the day Block Vote (Voice Vote)
- Vote recorded Constitutional reading dispensed R. Result: pass.Upper
- Feb 4Constitutional reading dispensed Block Vote (on 1st reading) (40-Y 0-N 0-A)
- Feb 4Rules suspended
- Feb 3Reported from Finance and Appropriations (9-Y 5-N 1-A)Minor
- Vote recorded Reported from Finance and Appropriations. Result: pass.Upper
- Jan 27Fiscal Impact Statement from Department of Planning and Budget (SB271)
- Jan 26Reported from Commerce and Labor with amendments and rereferred to Finance and Appropriations (10-Y 4-N 1-A)Minor
- Vote recorded Reported from Commerce and Labor with amendments. Result: pass.Upper
- Jan 26Senate committee offered
- Jan 22Rereferred from Education and Health to Commerce and Labor (14-Y 0-N)Minor
- Vote recorded Rereferred from Education and Health. Result: pass.Upper
- Jan 12Referred to Committee on Education and HealthMinor
- Jan 12Prefiled and ordered printed; Offered 01-14-2026 26105318DIntroduced