Requires the drug utilization review board established by the state health care authority to: (1) Include among its voting members a representative from each managed care organization that is contracted to administer a managed care plan; and

(2) Consider the safety, efficacy, and cost-effectiveness of new drugs and innovative therapies compared to other equally effective, more conservative, or substantially less costly courses of treatment that are available or suitable in its recommendations to the director of the authority regarding drugs and innovative therapies to be included in coverage for medical assistance programs.