North Carolina § 58-56A-5 - Maximum allowable cost price.

§ 58-56A-5. Maximum allowable cost price.

In order to place a prescription drug on the maximum allowable cost price list, the drug must be available for purchase by pharmacies in North Carolina from national or regional wholesalers, must not be obsolete, and must meet one of the following conditions: The drug is listed as "A" or "B" rated in the most recent version of the United States Food and Drug Administration's Approved Drug Products with Therapeutic Equivalence Evaluations, also known as the Orange Book. The drug has a "NR" or "NA" rating, or a similar rating, by a nationally recognized reference. A pharmacy benefits manager shall adjust or remove the maximum allowable cost price for a prescription drug to remain consistent with changes in the national marketplace for prescription drugs. A review of the maximum allowable cost prices for removal or modification shall be completed by the pharmacy benefits manager at least once every seven business days, and any removal or modification shall occur within seven business days of the review. A pharmacy benefits manager shall provide a means by which the contracted pharmacies may promptly review current prices in an electronic, print, or telephonic format within one business day of the removal or modification. History (2014-120, s. 20(a).) Editor's Note. - Session Laws 2014-120, s. 20(a), enacted this as G.S. 58-56A-3. It was renumbered as this section at the direction of the Revisor of Statutes.