Maine and Colorado: Making Moves on Drug Price Transparency?

  We have been keeping up with proposed and passed legislation in several states that affect the pharmaceutical industry, especially those relating to drug price transparency. Many states over the past couple of years have been tweaking their rules regarding industry requirements for pricing transparency, largely in response to public outcry. The two most recent states to enter the transparency fray are Maine and Colorado, with each state introducing legislation that aims to regulate prescription drug price transparency. Maine In Maine, state Senator Eloise Vitelli introduced LD 1406 (SP 484), An Act to Promote Prescription Drug Price Transparency. On April 17, 2018, the bill passed the House and the next day, April 18, 2018, the bill passed the Senate to be enacted. Under the legislation, organizations will be required to provide reports containing the following information about brand name and generic drugs by December 1, 2018, and annually thereafter: the 25 most frequently prescribed drugs in Maine; the 25 costliest drugs as determined by the total amount spent on those drugs in the state; and the 25 drugs with the highest year-over-year cost increases as determined by the total amount spent on those drugs by the state. Each manufacturer of drugs identified using the aforementioned criteria will need to submit reports on the drugs, including: the total cost of production and total cost per dose of the drugs; the research and development costs of the drug; the ...
Source: Policy and Medicine - Category: American Health Authors: Source Type: blogs