Chicago Proposes Drug Pricing Transparency Ordinance

Chicago Alderman Edward M. Burke recently held a hearing on the proposed city ordinance, “Chicago Drug Pricing Transparency Ordinance.” The ordinance would mandate that pharmaceutical manufacturers whose drugs are sold in Chicago must disclose any rise in prices ninety days in advance if those increases fall within one of the pre-selected categories. The ordinance proposes establishing a Prescription Drug Price Review Board, which shall be responsible for: (1) reviewing trends in the list price of medications dispensed or prescribed through its services – either directly or through public and private partnerships; (2) publishing an annual report highlighting prescription drug pricing trends within the City and where the data suggests the need for legislative, administrative, or other policy changes and put the report on file with the City Council Committee on Finance semi-annually, and presenting it to the City Council Committee on Finance at a hearing at least once per calendar year; (3) promulgating public advisory opinions about specific drugs, drug classes, or drug manufacturers that satisfy the standards for pricing practices to its facilities, partners, website, and the City’s Benefits Management Division; (4) establishing a “Pharmaceutical Price Watch Hotline” to accept notifications and information about pharmaceutical price increases from the public; and (5) effectuating and enforcing the regulations. The Hotline in number four is expected to be availab...
Source: Policy and Medicine - Category: American Health Authors: Source Type: blogs