Oregon Governor Signs Drug Price Transparency Bill
States are increasingly seeking more information about high drug prices, and Oregon just became the latest to turn a drug price transparency bill into a law.Gov. Kate Brown (D) signed the bill Tuesday, Kate Kondayen, press secretary for Brown, told Focus via email.
“Every Oregonian should be able to access the medications and treatments that allow them to live healthy, productive lives. This bill brings greater transparency around drug pricing, an important step towards making life-saving and essential drugs more available and affordable,” Brown said in a statement.
Under HB 4005, manufacturers will have to compile a report on each prescription drug if: The price was $100 or more for a one-month supply or for a course of treatment lasting less than one month; and there was a net price increase of 10% or more.
For such drugs, companies would have to supply a lot of information to the state, including : “factors that contributed to the price increase,” research and development costs, direct costs incurred to manufacture, market and distribute the drug, as well as the “10 highest prices paid for the prescription drug during the previous calendar year in any country other than the United States.”
Other States
Louisiana, Nevada, Maryland, North Carolina and Vermont also have adopted measures aiming to increase transparency on drug prices or stop price gouging.
The Louisiana law requires each drug manufacturer or pharmaceutical marketer who engages in any form of prescription drug marketing to provide to the Louisiana Board of Pharmacy four times each calendar year the current wholesale acquisition cost for the approved drugs marketed in the state by that manufacturer.
Nevada Gov. Brian Sandoval signed into law in June a measure that would require insulin manufacturers to disclose the prices they set and provide written explanations of price increases.
Maryland’s new price gouging law imposes fines on generic drugmakers that hike the wholesale acquisition cost of their products by 50% or more in one year, or if the WAC is more than $80 or if three or fewer drugmakers are actively manufacturing and marketing the drug.
Maryland and Nevada have faced legal challenges over their laws.
North Carolina’s law bans PBMs from prohibiting a pharmacist or pharmacy from providing an insured patient with information on the amount of the patient's prescription drug cost share and the efficacy of a lower-priced alternative drug if one is available.
And Vermont’s law, which has already seen some price gougers called out, exposes drugs and drugmakers that have hiked the prices of their treatments the most in the state.