BILL REQ. #:  H-1103.1 

Read first time 02/09/2005.   Referred to Committee on Financial Institutions & Insurance.

     AN ACT Relating to investments by the Washington state investment board; and adding a new section to chapter 43.33A RCW.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

NEW SECTION.  Sec. 1   A new section is added to chapter 43.33A RCW to read as follows:
     (1) For the purposes of this section, "pharmaceutical manufacturing company" means an entity that is engaged in the production, preparation, propagation, compounding, conversion, or processing of prescription drugs, either directly or indirectly, by extraction from substances of natural origin, or independently by means of chemical synthesis, or by a combination of extraction and chemical synthesis, or any entity engaged in the packaging, repackaging, labeling, relabeling, or distribution of prescription drugs. This term does not include pharmacists licensed under this chapter, or pharmacy operations of any integrated delivery system undertaken for the benefit of patients obtaining care through that system.
     (2) The state investment board may not invest in a pharmaceutical manufacturing company that:
     (a) Restricts the supply of one or more prescription drugs to Canada in response to the reimportation of a prescription drug into the United States; or
     (b) Sells any of their prescription drugs in the United States at a rate that is more than ten percent higher than the price they charge in Canada.