Assembly Works Towards Transparency In Drug Costs | Community Idea Stations

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Assembly Works Towards Transparency In Drug Costs

The General Assembly is set to take some small steps toward bringing greater transparency to the costs of prescription drugs.

Republican Senator Emmett Hanger of Augusta tried unsuccessfully earlier this session to require pharmaceutical companies to offer an explanation if their drug treatments exceed $10,000.

Drug-makers said sharing the costs of developing, manufacturing and marketing such medications would give inside information to their competitors.

Now Hanger has secured language in the budget that would require state agencies purchasing drugs through Medicaid to gather data on the costs of the 100 most frequently used drugs. Hanger says while most of the drug companies provide quality products at a justifiable cost, greater transparency would target abuse, like the case of former Turing Pharmaceutical CEO Martin Shkreli, who famously raised the price of the antiparasitic drug Daraprim 5,500% from $13.50 to $750 per tablet.