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Minnesota Statutes Insurance (Ch. 59A-79a) § 62J.842. Excessive price increases prohibited

Current as of January 01, 2025 | Updated by Findlaw Staff

Subdivision 1. Prohibition. No manufacturer shall impose, or cause to be imposed, an excessive price increase, whether directly or through a wholesale distributor, pharmacy, or similar intermediary, on the sale of any generic or off-patent drug sold, dispensed, or delivered to any consumer in the state.

Subd. 2. Excessive price increase. A price increase is excessive for purposes of this section when:

(1) the price increase, adjusted for inflation utilizing the Consumer Price Index, exceeds:

(i) 15 percent of the wholesale acquisition cost over the immediately preceding calendar year; or

(ii) 40 percent of the wholesale acquisition cost over the immediately preceding three calendar years; and

(2) the price increase, adjusted for inflation utilizing the Consumer Price Index, exceeds $30 for:

(i) a 30-day supply of the drug; or

(ii) a course of treatment lasting less than 30 days.

Subd. 3. Exemption. It is not a violation of this section for a wholesale distributor or pharmacy to increase the price of a generic or off-patent drug if the price increase is directly attributable to additional costs for the drug imposed on the wholesale distributor or pharmacy by the manufacturer of the drug.

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Cite this article: FindLaw.com - Minnesota Statutes Insurance (Ch. 59A-79a) § 62J.842. Excessive price increases prohibited - last updated January 01, 2025 | https://codes.findlaw.com/mn/insurance-ch-59a-79a/mn-st-sect-62j-842/

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