Steve Conway Co-Sponsored (Introduced) this Legislation.
Title: Establishes a Prescription Drug Affordability Board
Title: Establishes a Prescription Drug Affordability Board
Vote to concur with house amendments and pass a bill that establishes a prescription drug affordability board.
Establishes the prescription drug affordability board which will be comprised of individuals who have expertise in health care economics or clinical medicine, as appointed by the governor (Sec. 2).
Prohibits any board member from being an employee of, a board member of, or consultant to, a prescription drug manufacturer, pharmacy benefit manager, health carrier, prescription drug wholesale distributor, or related trade association (Sec. 2).
Requires the board to provide recommendations for the means and methodologies to establish a cost growth benchmark related to prescription drugs (Sec. 3).
Requires the board to identify following by June 30, 2021, and yearly thereafter (Sec. 3):
Brand name prescription drugs and biological products that:
Are introduced to the market with a wholesale acquisition cost of $30,000 or more per year or course of treatment lasting less than one year; or
Have a price increase of $2,000 or more in any 12-month period;
Biosimilar products that have a launch wholesale acquisition cost that is not at least 15 percent lower than the reference brand biological product at the time the biological is launched;
Generic drugs with a wholesale acquisition cost of $100 or more for a 30-day supply or less that has increased in price by 200 percent or more in the preceding 12 months;
Any prescription drug or biological products exceeding the relevant benchmark established by the health care cost transparency board; and
Any other prescription drug or biological product the board believes the manufacturer’s pricing may exceed the proposed value of the products.
Authorizes the board to conduct a cost review of any prescription drug or biological product identified in section 3 (Sec. 4).
Specifies that for prescription drugs or biological products chosen for a cost review, the board must determine whether the manufacturer’s pricing of the drug or product substantially exceeds the proposed value of the drug or product (Sec. 4).
Authorizes the board to examine publicly available information as well as collect information from the drug manufacturer and other relevant sources (Sec. 4).
Title: Establishes a Prescription Drug Affordability Board
Title: Establishes a Prescription Drug Affordability Board
Title: Establishes a Prescription Drug Affordability Board