18 V.S.A. § 4681 Definitions
4681. Definitions
As used in this subchapter:
(1) “340B contract pharmacy” means a pharmacy that has a contract with a 340B covered entity to receive and dispense 340B drugs to the 340B covered entity’s patients on the covered entity’s behalf.
(2) “340B covered entity” means an entity participating or authorized to participate in the federal 340B drug pricing program, as described in 42 U.S.C. § 256b. The term includes a 340B covered entity’s pharmacy.
(3) “340B drug” means a drug that has been subject to any offer for reduced prices by a manufacturer pursuant to 42 U.S.C. § 256b and is purchased by a 340B covered entity.
(4) “Discount” means a reduction in the amount a 340B covered entity is charged for a 340B drug at the time of purchase.
(5) “Manufacturer” has the same meaning as in 26 V.S.A. § 2022.
(6) “Pharmacy” means a place licensed by the Vermont Board of Pharmacy at which drugs, chemicals, medicines, prescriptions, and poisons are compounded, dispensed, or sold at retail.
(7) “Pharmacy benefit manager” has the same meaning as in section 3602 of this title.
(8) “Rebate” means a discount in which the terms are fixed and are disclosed in writing to a 340B covered entity at the time of the initial purchase of the 340B drug to which the discount applies, but which discount is not applied at the time of purchase.
Added 2025, No. 55, § 1, eff. June 11, 2025.