Whereas on the nationwide degree, there was a lot press about President Trump’s purpose of compelling pharmaceutical companies to disclose prices on TV ads (since blocked in the Judiciary), on the state degree adjustments are additionally afoot. Quite a lot of states are making strikes to compel pharmaceutical firms to reveal drug costs. Others are compelling pharmaceutical companies to reveal different data together with rebates, R&D prices, and income. Some states mandate this data for all drug lessons; others for particular sorts of medication. A current Bloomberg Law article has a pleasant abstract of those laws.
The article additionally states that many of those laws haven’t been binding. Some producers have complied whereas others haven’t.
Solely about half of impacted drug producers in Nevada reported on time in 2019, with some citing employees turnover or unfamiliarity with the legislation, mentioned Scott Jones, who beforehand labored with the drug price transparency program within the state’s Division of Well being and Human Providers.
California regulators despatched 17 penalty notices for late reviews totaling almost $11 million in fines, in accordance with Jan. 22 knowledge launched to Bloomberg Regulation underneath the state’s public data legislation. 5 firms paid in full, whereas others reached settlements to pay diminished quantities or nothing, or are nonetheless interesting.
The price transparency laws are an evolving space, and are a coverage space that could be affected by the 2020 Presidential Election.