Prescription Drug Affordability Board; established.

This legislation creates a Prescription Drug Affordability Board tasked with lowering the costs of high-priced medications for Virginia residents. The board will evaluate the cost-effectiveness of certain drugs and establish upper payment limits for those that create an unreasonable financial burden on the state, health plans, and patients. By systematically reviewing drug pricing practices and capping costs for expensive treatments, the board aims to make essential medicine more accessible and reduce out-of-pocket expenses for families across the Commonwealth. This measure represents a significant shift toward state-level intervention in pharmaceutical pricing, reflecting a broader effort to mitigate the impact of rising healthcare costs on Arlington residents and the public at large.