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Minnesota Statutes Insurance (Ch. 59A-79a) § 62J.86. Definitions

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

Subdivision 1. Definitions. For the purposes ofsections 62J.85to62J.95, the following terms have the meanings given.

Subd. 2. Advisory council. “Advisory council” means the Prescription Drug Affordability Advisory Council established undersection 62J.88.

Subd. 3. Biologic. “Biologic” means a drug that is produced or distributed in accordance with a biologics license application approved underCode of Federal Regulations, title 42, section 447.502.

Subd. 4. Biosimilar. “Biosimilar” has the meaning provided insection 62J.84, subdivision 2, paragraph (b).

Subd. 5. Board. “Board” means the Prescription Drug Affordability Board established undersection 62J.87.

Subd. 6. Brand name drug. “Brand name drug” means a drug that is produced or distributed pursuant to:

(1) a new drug application approved underUnited States Code, title 21, section 355(c), except for a generic drug as defined underCode of Federal Regulations, title 42, section 447.502; or

(2) a biologics license application approved underUnited States Code, title 45, section 262(a)(c).

Subd. 7. Generic drug. “Generic drug” has the meaning provided insection 62J.84, subdivision 2, paragraph (e).

Subd. 8. Group purchaser. “Group purchaser” has the meaning given insection 62J.03, subdivision 6, and includes pharmacy benefit managers, as defined insection 62W.02, subdivision 15.

Subd. 9. Manufacturer. “Manufacturer” means an entity that:

(1) engages in the manufacture of a prescription drug product or enters into a lease with another manufacturer to market and distribute a prescription drug product under the entity's own name; and

(2) sets or changes the wholesale acquisition cost of the prescription drug product it manufacturers or markets.

Subd. 10. Prescription drug product. “Prescription drug product” means a brand name drug, a generic drug, a biologic, or a biosimilar.

Subd. 11. Wholesale acquisition cost or WAC. “Wholesale acquisition cost” or “WAC” has the meaning given inUnited States Code, title 42, section 1395W-3a(c)(6)(B).

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Cite this article: FindLaw.com - Minnesota Statutes Insurance (Ch. 59A-79a) § 62J.86. Definitions - last updated January 01, 2025 | https://codes.findlaw.com/mn/insurance-ch-59a-79a/mn-st-sect-62j-86/

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