New York S00488 requires prescription drug manufacturers to notify the attorney general of patent settlement agreements that delay the introduction.

New York S00488, known as the Manufacturer Disclosure and Transparency Act, mandates that pharmaceutical manufacturers notify the attorney general of any patent settlement agreements that result in the delay of generic medications. Manufacturers must submit the full text of these agreements within 30 days of entering into them. The attorney general is then required to post this information on their website within 60 days, making it searchable by drug, cost, disease, and manufacturer. Failure to comply with these notification requirements results in a fine of $10,000 per day of noncompliance.

New York S00488 requires prescription drug manufacturers to notify the attorney general of patent settlement agreements that delay the introduction.

New York S00488, known as the Manufacturer Disclosure and Transparency Act, mandates that pharmaceutical manufacturers notify the attorney general of any patent settlement agreements that result in the delay of generic medications. Manufacturers must submit the full text of these agreements within 30 days of entering into them. The attorney general is then required to post this information on their website within 60 days, making it searchable by drug, cost, disease, and manufacturer. Failure to comply with these notification requirements results in a fine of $10,000 per day of noncompliance.