Senate Sponsors: OBAMA. Short description: FAIR PRICING OF PRESCRIPS ACT Synopsis of Bill as introduced: Creates the Fair Pricing of Prescription Drugs Act. Creates the Prescription Drug Price Fairness Review Board to establish a price schedule of maximum manufacturer prices for prescription drugs sold in Illinois. Provides that the Director of Revenue shall implement and distribute the prescription drug price schedule established by the Board. Requires that manufacturers, wholesalers, and retailers of prescription drugs be licensed by the Director of Revenue. Requires that the Prescription Drug Price Fairness Review Board and Director of Revenue report to the General Assembly regarding the program. Creates a Legislative Study Committee on Prescription Drugs to study the way to obtain the lowest drug prices for citizens of Illinois. Provides that the Director of Public Health shall establish the Illinois Pharmanet information network to educate physicians and patients about the best therapeutic and cost-effective utilization of prescription drugs. Effective immediately. Last action on Bill: SESSION SINE DIE Last action date: 01-01-09 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status