; or (B) managing the prescription drug benefits provided by the health plan, coverage, or payer, which may include formulary management the processing and payment of claims for prescription drugs, the performance of drug utilization review, the processing of drug prior authorization requests, the adjudication of appeals or grievances related to the prescription drug benefit, contracting with network pharmacies, or the provision of related services. (6) Prescription drug The term prescription drug means— (A) a drug, as that term is defined in section 201(g) of the Federal Food, Drug, and Cosmetic Act ( 21 U.S.C. 321(g) ), that is— (i) approved by the Food and Drug Administration under section 505 of such Act ( 21 U.S.C. 355 ); and (ii) subject to the requirements of section 503(b)(1) of such Act ( 21 U.S.C. 353(b)(1) ); (B) a biological product as that term is defined in section 351 of the Public Health Service Act ( 42 U.S.C. 262(i)(1) ); or (C) a product that is biosimilar to, or interchangeable with, a biologic product under section 351 of the Public Health Service Act ( 42 U.S.C. 262(i) ).