Requires a drug manufacturer, if it increases the wholesale acquisition cost of an insulin drug by ten percent at any one time or in the aggregate in a twelve-month period, to notify the office of the insurance commissioner and the state health care authority of the increase.

Requires the prescription drug program to: (1) Produce and make available to drug manufacturers a price increase notification form; and

(2) Review the price increase and determine if the increase is excessive.

Authorizes a drug manufacturer, if the prescription drug program finds the price excessive, to appeal the decision by filing a notice of appeal with the office of administrative hearings.