Minnesota state-covered entities generated at least $1.34 billion in net 340B revenue in calendar year 2024 — more than double the $630 million reported in 2023.
A Feb. 27 report to the Legislature from the Minnesota Department of Health said covered entities reported $3.04 billion in reimbursements against $1.53 billion in acquisition costs and $165 million in operational expenses.
The department said 2024’s $1.34 billion total likely understates actual revenue due to challenges capturing office-administered drugs. The figure also includes $64 million in estimated missing reimbursements.
Of 204 covered entities required to report in 2025, 198 submitted data, reflecting a 97% response rate. The analysis ultimately included 181 entities.
The state’s 23 general acute care hospitals generated $1,082,379,896 in net 340B revenue, accounting for more than 80% of the statewide total.
Operational expenses included $120 million in contract pharmacy payments and $17 million in other external costs. The report also cited approximately 1,172 child sites and 2,472 contractual agreements with outpatient pharmacies tied to Minnesota parent covered entities.
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