SB 517

Creates new GS Chapter 131E, Article 11C (340B Covered Entities). In Part 1 (Fair Pricing of 340B Drugs by Hospitals), establishes definitions including the federal 340B Drug Pricing Program authorized under 42 U.S.C. § 256b and “covered entity” as hospitals and children’s hospitals under 42 U.S.C. § 256b(a)(4)(L) or (M). Requires that hospitals and other covered entities under the 340B program that acquire drugs at a discounted rate may not accept a higher cost as payment for dispensing or administering the drugs to patients. Makes a violation of this pricing restriction an unfair or deceptive trade practice subject to action under GS Chapter 75, Article 1.