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California enacts law aimed at corralling high drug prices

Published 10/10/2017, 07:42 AM
© Reuters.  California enacts law aimed at corralling high drug prices
  • Yesterday, California Governor Jerry Brown signed a bill into law that requires drug makers to explain and justify price increases. Specifically, drug firms must provide 60-day notice to insurers and government health plans before increasing the list price of any medicine that costs more than $40 by at least 16% in a two-year period.
  • Health plans must provide detailed information about prescription drug costs and the portion of premiums related to this expense.
  • The law, vociferously opposed by the pharmaceutical industry, will go into effect January 1, 2018.
  • PFE MRK AGN ABBV BMY LLY BMY NVS AZN GSK OTCQX:RHHBY GILD BIIB AMGN CELG PJP IHE XPH PPH GNRX
  • Now read: Senator Seeks To Thwart Allergan's Patent Transfer


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