The list of drugs that have grabbed headlines for dizzyingly high prices are just the tip of the iceberg. Pharmaceutical companies’ habit of pushing the limits on drug prices is costing states like California billions and driving up the cost of healthcare.
Enough is enough. It’s time for solutions.
California Takes On Out-of-Control Prescription Drug Pricing
SB 17 BRINGS PHARMA’S PRICING TACTICS OUT OF THE SHADOWS
The pharmaceutical industry spent years stalling transparency legislation in the state legislature but, California families made progress in 2017 with the passage of SB 17. There’s more to be done, but this landmark law is paving the way for more sustainable, affordable prescription drug prices.
AB 824 SEEKS TO END PHARMA’S ANTI-COMPETITIVE PRICING TACTICS
Pay-for-delay agreements, also known as reverse payment settlements, occur when major brand-name pharmaceutical companies pay off generic manufacturers to delay entering their lower-priced generic versions of the drug into the market for a set period of time. Pay-for-delay agreements take money from patient pockets to unfairly increase drug company profits. AB 824 (Wood) is currently making its way through California’s Capitol. The law will give Attorney General Becerra greater tools to crack down on pay-for-delay schemes — bringing more generic drugs into the marketplace to ensure competition helps all Californians have access to more affordable health care. Read more about Pay-for-Delay.
Stay Informed
Stay up to date on the fight against runaway prescription drug prices.
Don’t let pharma tell you otherwise. Reports show that prescription drugs are the second-largest expense paid by health plan premium dollars. Find out more: https://t.co/TfEoHf0gQA
Big pharma will tell you that rebates make health care more affordable, but the truth is that it comes nowhere near to offsetting the nearly $10 billion in drug costs in 2019. Learn more: https://t.co/TfEoHf0gQA
“Poll after poll has found that a substantial number of Americans complain they are increasingly unable to afford some of their prescriptions.” Article by @Edsilverman mentions how hard it is to pay for much-needed prescriptions. Let’s make #RisingDrugPrices a thing of the past!
A commonly prescribed drug used to treat infections like bronchitis, tonsillitis, pneumonia increased by 40% to cost nearly $160 according to @CA_OSHPD’s latest report. Read more: https://t.co/xkmR4M3GqQ #2020RisingDrugPrices https://t.co/WFNC1fgo74
Transparency in Drug Pricing
Health coverage protects us from most of Big Pharma’s price gouging, but drugs with six-figure price tags drive up the cost of care for everyone.
In 2017, California passed SB 17 to bring pharmaceutical companies’ pricing tactics out of the dark and begin to address the growing affordability crisis. The bill, which will serve as a model for the nationwide push to address rising prescription drug prices, came on the tails of truly outrageous price hikes, like Mylan’s decision to needlessly up the price of EpiPens by nearly 500 percent and Gilead Sciences’ pricing of a lifesaving treatment at $1,000 per pill. While examples like these are widely known, the pharmaceutical industry has been quietly upping the price of old and new drugs alike. This destructive practice has led prescription drug prices to become the fastest growing portion of the health care dollar.
SB 17 is now:
Giving A Heads
Up On
Price Hikes
Drug companies will give payers notice of major price increases for the most expensive drugs
Helping Plan
For
Increases
Payers can plan ahead for significant price increases on medications
Providing Data
To Inform
Solutions
Lawmakers can review historical trends on drug costs to inform solutions
Creating
Public
Accountability
