Cuomo proposes drug price caps

In his 2016-17 budget proposal, New York Gov. Andrew Cuomo proposed that the state's commissioner of health and mental hygiene set price caps on drugs "for which there is significant public interest in ensuring rational pricing by drug manufacturers."

The proposal includes cost disclosure requirements for drug companies, similar to Bill S5338-2015 introduced last May by N.Y. state Sen. Ruben Diaz (D). Cuomo's proposal also asks the Department of Health to collect clinical trial data and outcomes research in order to conduct a value-based assessment. The commissioner would then establish "a reasonable ceiling price." Companies that set prices above the ceiling would be required to provide a rebate for the difference. ...