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 SB 271.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Apr 13Governor's recommendation received by HouseLatest
- 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 (HB483)
- Mar 30Signed by PresidentMajor
- Mar 30Bill text as passed House and Senate (HB483ER)Major
- Mar 30EnrolledMinor
- Mar 23Fiscal Impact Statement from Department of Planning and Budget (HB483)
- Mar 12Senate substitute agreed to by House (87-Y 11-N 0-A)Major
- Vote recorded H VOTE:. Result: pass.Lower
- Mar 11Passed Senate with substitute (34-Y 6-N 0-A)Passed Senate
- Vote recorded Passage R. Result: pass.Upper
- Mar 11Engrossed by Senate - committee substituteMajor
- Mar 11Finance and Appropriations Substitute agreed to
- Mar 11Commerce and Labor Substitute rejected
- Mar 11Read third timeMinor
- Mar 10Passed by for the day (Voice Vote)
- Vote recorded Constitutional reading dispensed (on 2nd reading). Result: pass.Upper
- Mar 10Constitutional reading dispensed (on 2nd reading) (37-Y 0-N 0-A)
- Mar 10Rules suspended
- Mar 10Committee substitute printed 26109533D-S2Major
- Mar 9Reported from Finance and Appropriations with substitute (10-Y 4-N)Minor
- Vote recorded Reported from Commerce and Labor with substitute. Result: pass.Upper
- Vote recorded Reported from Finance and Appropriations with substitute. Result: pass.Upper
- Mar 9Committee substitute printed 26109394D-S1Major
- Mar 9Reported from Commerce and Labor with substitute and rereferred to Finance and Appropriations (12-Y 3-N)Minor
- Mar 9Senate committee offered
- Feb 17Fiscal Impact Statement from Department of Planning and Budget (HB483)
- Feb 16Referred to Committee on Commerce and LaborMinor
- Feb 16Constitutional reading dispensed (on 1st reading)
- Feb 13Read third time and passed House (61-Y 33-N 0-A)Passed House
- Vote recorded H VOTE:. Result: pass.Lower
- Feb 12Engrossed by House as amended
- Feb 12committee amendments agreed toMajor
- Feb 12Read second timeMinor
- Feb 11Read first timeMinor
- Feb 9Reported from Appropriations (17-Y 5-N)Minor
- Vote recorded Reported from Appropriations. Result: pass.Lower
- Feb 6Subcommittee recommends reporting (6-Y 1-N)
- Vote recorded Subcommittee recommends reporting. Result: pass.Lower
- Jan 30Assigned HAPP sub: Health & Human ResourcesMinor
- Jan 29Reported from Labor and Commerce with amendment(s) and referred to Appropriations (14-Y 8-N)Minor
- Vote recorded Reported from Labor and Commerce with amendment(s). Result: pass.Lower
- Jan 27Fiscal Impact Statement from Department of Planning and Budget (HB483)
- Vote recorded Subcommittee recommends reporting with amendment(s). Result: pass.Lower
- Jan 27Subcommittee recommends reporting with amendment(s) and referring to Appropriations (5-Y 4-N)
- Jan 27House subcommittee offered
- Jan 19Assigned HCL sub: Subcommittee #1Minor
- Jan 12Referred to Committee on Labor and CommerceMinor
- Jan 12Prefiled and ordered printed; Offered 01-14-2026 26104953DIntroduced