Prohibits renewal of permits for prescription drug manufacturers & wholesale distributors unless specified requirements are met; provides reporting requirements for entities that engage in wholesale distributions of prescription drugs; provides requirements for notifications by manufacturers of prescription drug price increases; provides reporting requirements by manufacturers of drug prices; prohibits prescription drugs from being included in specified drug formularies; provides penalties & fines for violations; provides reporting requirements for registered pharmacy benefit managers; requires health insurers & HMOs to notify insureds & subscribers of drug formulary changes; requires pharmacy benefit managers to maintain a website for access to net prices of prescription drugs.