As used in the Prescription Drug Price Transparency Act: A. "authorized health insurer" means an entity holding a valid certificate of authority issued pursuant to the insurance laws of this state, including a health insurance company, health maintenance organization, hospital or health care services corporation, provider service network, nonprofit health care plan or any other entity that:
(1)contracts, offers to contract or enters into agreements to pay for or reimburse any costs of health care services; or (2) provides, offers or administers health benefits plans or managed health care plans in this state; B. "biosimilar product" means a prescription drug product that, in reference to a biological product that the federal food and drug administration has licensed:
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As used in the Prescription Drug Price Transparency Act: A. "authorized health insurer" means an entity holding a valid certificate of authority issued pursuant to the insurance laws of this state, including a health insurance company, health maintenance organization, hospital or health care services corporation, provider service network, nonprofit health care plan or any other entity that: (1) contracts, offers to contract or enters into agreements to pay for or reimburse any costs of health care services; or (2) provides, offers or administers health benefits plans or managed health care plans in this state; B. "biosimilar product" means a prescription drug product that, in reference to a biological product that the federal food and drug administration has licensed: (1) is highly similar to the single biological product against which the biosimilar product was evaluated in the biosimilar product's marketing application to the federal food and drug administration; and (2) displays no clinically meaningful differences between the biosimilar product and the single biological product against which the biosimilar product was evaluated in the biosimilar product's marketing application to the federal food and drug administration in terms of the safety, purity and potency of the product; C. "brand name drug" means a prescription drug that is marketed or distributed in accordance with: (1) an original new drug application, except for a generic drug; or (2) a biologics license application approved by the federal food and drug administration; D. "confidential information" means information obtained by the superintendent pursuant to the Prescription Drug Price Transparency Act that has not become public information and that, if released prematurely or in non-aggregate or non-summary form, may provide unfair economic advantage or adversely affect the competitive position of any entity that reports to the superintendent pursuant to the Prescription Drug Price Transparency Act. "Confidential information" includes proprietary information and trade secrets; E. "generic drug" means a prescription drug that is: (1) marketed or distributed in accordance with an abbreviated new drug application approved by the federal food and drug administration; (2) an authorized generic drug approved by the federal food and drug administration; or (3) a prescription drug that entered the market before 1962 that was not originally marketed under a new drug application; F. "manufacturer" means an entity licensed to manufacture or distribute prescription drugs pursuant to the Pharmacy Act [Chapter 61, Article 11 NMSA 1978] that: (1) owns the patent to a prescription drug product; (2) enters into a lease with another manufacturer to market and distribute a brand name drug under the entity's own name; or (3) sets or changes the wholesale acquisition cost of a prescription drug product that the entity manufactures or markets; G. "medicare part D specialty-tier cost threshold" means the cost threshold set by the federal centers for medicare and medicaid services to determine which prescription drugs are in the specialty tier of the prescription drug benefit plan provided under part D of Title 18 of the federal Social Security Act; H. "pharmacy benefits manager" means an entity licensed as a pharmacy benefits manager pursuant to the Pharmacy Benefits Manager Regulation Act [Chapter 59A, Article 61 NMSA 1978]; I. "pharmacy services administrative organization" means an entity registered with the superintendent as a pharmacy services administrative organization pursuant to the Pharmacy Benefits Manager Regulation Act; J. "prescription drug product" means any of the following products: (1) a biologic product produced or distributed in accordance with a biologics license application approved by the federal food and drug administration; (2) a biosimilar product; (3) a brand name drug; or (4) a generic drug; K. "rebate" means a price concession paid by a manufacturer to a pharmacy benefits manager or authorized health insurer that is based on the: (1) actual or estimated use of a prescription drug; or (2) effectiveness of a prescription drug pursuant to the terms of a value-based or performance-based contract; and L. "wholesale acquisition cost" means the manufacturer's list price for a prescription drug sold to wholesalers in the United States, not including discounts, rebates or reductions in price.