New York introduces cost transparency bill
New York became the latest state to introduce a drug cost transparency bill as state Sen. Ruben Diaz (D) introduced Bill S5338-2015, which would require drug companies to disclose to legislators and the public R&D costs, SG&A expenses and profits for any drug with a wholesale acquisition cost exceeding $10,000 annually or per treatment course. The Pharmaceutical Cost Transparency Act of 2015 does not include any cost-containment mechanisms. The bill was referred to the state's Committee on Health.
Similar state transparency bills in California and Oregon have failed. Legislators from both states previously told BioCentury the main reason those bills could not get out of committee was that they did not include mechanisms to lower drug prices. Committee members in California and Oregon also noted the bills' requirements to disclose data publicly might violate federal confidentiality requirements. A transparency bill in North Carolina, HB 839, was not heard by the House Health Committee before an April 30 voting deadline. ...