San Diego Business Journal: Pharma Firms Say Transparency Act Itself Has Big Price Tag
Pharma Firms Say Transparency Act Itself Has Big Price Tag
By Brittany Meiling, San Diego Business Journal
May 4, 2015
Pharmaceutical companies in California will dodge additional red tape this year as the vote on a controversial health care bill was delayed yet again. The topic won’t be revisited for a full year.
The proposed bill, the Pharmaceutical Cost Transparency Act, or Assembly Bill 463, would require pharmaceutical companies to publicly disclose the details and factors that go into pricing expensive prescription drugs.
Proposed by Assemblyman David Chiu (D-San Francisco), the bill specifically targets companies that make drugs with a wholesale cost of $10,000 or more per course of treatment. These drug makers would be required to file an annual report outlining how much it costs to produce the drug. The paperwork would include information on the cost of materials, research, testing, compliance and marketing; the drug’s average price in previous years; and the profits attributable to it.
View full article at the San Diego Business Journal.