Prescription drug prices have some state officials fed up and looking for answers. Increased prices years after year on some life-improving drugs have led to a push to force pharmaceutical companies to provide the reasoning for the cost increases.
“I think the people of Connecticut would want to know why their drug prices are increasing every time they go to the pharmacy,” said Rep. Sean Scanlon, who rolled out the legislation along with State Comptroller Kevin Lembo, also a Democrat.
Scanlon and Lembo’s legislation would mandate that drug makers provide information to the state as to why the cost of a particular drug increased by 25 percent or more in a given year. In addition, the measure would require pharmacy benefit managers, those who act in between pharmaceutical companies and pharmacies, to disclose the rebates they receive and what gets passed on to consumers.
“The journey between drug manufacturer and consumer is a long one – dotted with many deals, payments and wealth exchange along the way,” Lembo said. He described the pharmaceutical chain of events as a “shadowy market.”
The bill was only heard by the Insurance and Real Estate Committee Tuesday. A vote isn’t expected until later in the legislative session.