Drugmakers Report Expected Cost Spikes Under California’s New Transparency Law
Notifications from Valeant and Teva Pharmaceuticals are early results of the California law that in January began requiring drug companies to give major purchasers 60 days’ notice of significant increases.
California's Drug Transparency Law Yields Early Surprises
California’s first-in-the-nation drug pricing transparency law is beginning to kick in — and to spur copycats, with Oregon’s governor last week signing a law that requires drug companies to disclose cost components they have long considered proprietary. Whether they’ll actually reduce prices is a crapshoot. California has already pried loose new numbers that may seem deja vu: Valeant, a magnet for criticism over past price boosts, is about to raise the price of a generic glaucoma medication by 63 percent, and Teva Pharmaceuticals, the world’s biggest generic drugmaker, plans a 49 percent price bump May 1 for an inhaled solution to prevent asthma attacks, according to documents obtained by POLITICO. (Colliver, 3/25)