S.4789

Establishes a preferred drug list for State health benefit plans in New Jersey.

The bill mandates the State Treasurer to establish and maintain a preferred drug list for the State Health Benefits Program and the School Employees' Health Benefits Program. It prohibits managed care organizations from negotiating rebates on products included on the preferred drug list. The State Treasurer is authorized to seek supplemental rebates from drug manufacturers and related entities to control drug costs. The bill also requires a consistent cost methodology for pricing drug ingredients and professional dispensing fees.