South Dakota § 58-29E-18 - Duties--Pharmacy benefit manager.

§ 58-29E-18. Duties--Pharmacy benefit manager.

A pharmacy benefit manager shall:

(1)    Provide each pharmacy in a pharmacy network with reasonable access to each maximum allowable cost list to which the pharmacy is subject;

(2)    Update a maximum allowable cost list, within seven calendar days from the date of any increase, at or above ten percent, in the price charged for a prescription drug on the list by one or more wholesale distributors doing business in this state;

(3)    Update the maximum allowable cost list, within seven calendar days from the date of any change in the methodology, or any change in the value of a variable applied in the methodology, on which the maximum allowable cost list is based; and

(4)    Provide a process under which each pharmacy in a pharmacy network may receive prompt notice of any change in a maximum allowable cost list to which the pharmacy is subject.

Source: SL 2023, ch 166, § 16.