New York S00396 mandates investigations into critical prescription drug pricing and allows for civil penalties and private actions for unjustified.

New York S00396 amends the insurance law to require investigations into critical prescription drug pricing. The superintendent of financial services can investigate if a drug's price increases more than the cost of living index over twelve months or if it is suspected that the price increase is unjustified. The superintendent can subpoena witnesses, compel attendance, and examine them. Failure to comply with subpoenas or provide required statements can result in civil penalties up to $1,000 per day.

New York S00396 mandates investigations into critical prescription drug pricing and allows for civil penalties and private actions for unjustified.

New York S00396 amends the insurance law to require investigations into critical prescription drug pricing. The superintendent of financial services can investigate if a drug's price increases more than the cost of living index over twelve months or if it is suspected that the price increase is unjustified. The superintendent can subpoena witnesses, compel attendance, and examine them. Failure to comply with subpoenas or provide required statements can result in civil penalties up to $1,000 per day.