Examples of Preferred Drug List in a sentence
The Pharmaceutical Manufacturer agrees to provide a State Supplemental Rebate for each of its Covered Products that is paid by the Department and dispensed to Medicaid Members by Pharmacies for each calendar quarter that Covered Products are included in the Preferred Drug List.
The Department will communicate the inclusion of Covered Product on the Preferred Drug List to the State Medicaid Program providers through the standard notification process.
The Department will place Covered Products in an advantaged position relative to non-preferred products regarding the Preferred Drug List status, and depending on the designated preferred tier, the Department may place Covered Products in an advantaged position relative to other preferred products (Step Therapy).
If during the duration of this Agreement a generic equivalent of any Competitive Product should become available and no federal Upper Limit is established, the Department will allow Covered Product to remain on the Preferred Drug List so long as the net cost to the Department, as defined in Attachment B, is not more than the lowest reimbursement cost for a generic equivalent.