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(1) As used in this section, "insulin" means a prescription drug that contains insulin.
(2) The department shall obtain funding through grants to fund a study on insulin costs.
(3) If the department obtains the funding described in Subsection (2), the department shall, on or before October 30, 2020, complete a study on the cost of insulin manufacturing and factors that determine the price of insulin.
(4) The department shall use public, readily available data accessible to the department to conduct the study described in Subsection (3).
(5) The study described in Subsection (3) shall investigate:
(a) current and historical trend information about the wholesale acquisition cost of insulin;
(b) the cost to produce insulin;
(c) explanations for increases in insulin costs;
(d) expenditures of drug manufacturers in marketing insulin;
(e) manufacturers' net profits from insulin;
(f) the portion of drug manufacturers' total net profits that is composed of insulin net profits;
(g) financial assistance currently available to individuals who use insulin through patient prescription assistance programs;
(h) value to individuals who use insulin benefits including:
(i) coupons provided directly to individuals who use insulin; and
(ii) programs to assist individuals who use insulin in paying co-payments and coinsurance;
(i) costs to drug manufacturers of the programs described in Subsection (5)(h);
(j) total value of benefits manufacturers provide in the form of rebates for insulin to health plans or pharmacy benefit managers in Utah; and
(k) additional information that the department determines will aid the Legislature in developing policy to reduce insulin prices in Utah.
(6)
(a) On or before October 30, 2020, the department shall submit a final report on the study described in Subsection (3) to the Health and Human Services Interim Committee and the Business and Labor Interim Committee.
(b) The department's report may include recommendations on legislation for:
(i) increased drug pricing transparency; and
(ii) programs that would meaningfully reduce the cost of insulin.
(c) The final report shall include references to all sources of information and data used in the report and study, except the department may not disclose information that is proprietary or protected under state law or federal law or regulation.