On or before February 1 of each year, the Department shall compile:
1. A list of prescription drugs that the Department determines to be essential for treating asthma and diabetes in this State and the wholesale acquisition cost of each such drug on the list. The list must include, without limitation, all forms of insulin and biguanides marketed for sale in this State.
2. A list of prescription drugs described in subsection 1 that have been subject to an increase in the wholesale acquisition cost of a percentage equal to or greater than:
(a) The percentage increase in the Consumer Price Index, Medical Care Component during the immediately preceding calendar year; or
(b) Twice the percentage increase in the Consumer Price Index, Medical Care Component during the immediately preceding 2 calendar years.
(Added to NRS by 2017, 4297; A 2019, 1465)