Should-Read: CPPC: Victory in California! Drug Price Transparency Bill Becomes Law

Should-Read: CPPC: Victory in California! Drug Price Transparency Bill Becomes Law: “California Governor Jerry Brown signed SB 17, a drug price transparency bill, into law…

…Brown said there is:

real evil when so many people are suffering so much from rising drug prices…The essence of this bill is pretty simple. Californians have a right to know why their medical costs are out of control, especially when the pharmaceutical profits are soaring…This measure is a step at bringing transparency, truth, exposure to a very important part of our lives — that is the cost of prescription drugs.

The new law will go into effect on January 1st, 2018.

The law… make drug price… more transparent… requiring drug companies to give health insurers and government health plans at least sixty days’ warning before prescription drug hikes that would exceed 16% over a two-year period. Drug companies will also have to provide reasons behind the price increases. Big Pharma strongly opposed the bill….

Drug prices have been skyrocketing over the past decade, and policymakers want to take action to reduce them. One of the major problems has been a great lack of information on drug prices, what contributes to their increase, and who is responsible for the harm to consumers. The passage of SB 17 shows that transparency bills are not doomed to defeat…