Common use of Market Check Clause in Contracts

Market Check. A technology-driven evaluation of prescription drug pricing based on benchmarks derived from pharmacy benefits manager’s reverse auction processes conducted in the United States over the immediately preceding 12 months (State Personnel and Pensions Article, Section 2-502.2). In the event market data for reverse auction processes conducted in the United States over the immediately preceding 12 months is not available or complete, benchmarking will be based on existing market pharmacy benefits manager agreements from comparable plans.