The Los Angeles Times: More transparency proposed for prescription drug price increases under bill passed by California Senate
By Patrick McGreevy
Alarmed by skyrocketing prices for some prescription drugs, the California Senate on Tuesday approved a measure aimed at increasing pressure to hold down costs to consumers by requiring more public reporting of price hikes.
The lawmakers approved a bill that would require drug manufacturers to notify health plans and state purchasers such as the prison department of increases in the wholesale cost of drugs in writing at least 90 days before the new costs were to take effect.
The measure also requires that health plans and insurers notify state regulators of pricing information for the most costly drugs.
“We’re not saying that they can’t raise the price. We’re just saying notify us,” Hernandez said during the floor debate. “And if [the price] goes up a significant amount, we should be able to question why.”
The measure passed by a 26-10 vote with some Republicans, including Sen. Ted Gaines of El Dorado Hills, opposed.
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