Except as provided in chapter 58-17K, and in accordance with the audit provisions in § 58-29E-7, a third-party payor that has contracted with a licensed pharmacy benefit manager may not publish, or directly or indirectly disclose:

(1) Any information that reveals the identity of a specific third-party payor or manufacturer;

Ask an insurance law question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

(2) Prices charged for a specific drug or class of drugs;

(3) The amount of any rebates provided for a specific drug or class of drugs; or

(4) Any information that has the potential to compromise the financial, competitive, or proprietary nature of the pharmacy benefit manager’s business.

The information referenced in § 58-29E-7 is protected from disclosure as confidential and proprietary. The information is privileged and not open to public inspection or disclosure.

A third-party payor that has contracted with a licensed pharmacy benefit manager shall impose the confidentiality protections set forth in § 58-29E-7 on any vendor or third party that may receive or have access to the information.

Source: SL 2023, ch 166, § 8.