Bill > H1162

This bill aims to promote transparency in prescription drug prices. It has the following key provisions: 1. The Health Policy Commission, in collaboration with the Center for Health Information and Analysis, will annually identify up to 15 prescription drugs on which the state spends significant healthcare dollars and whose wholesale acquisition cost has increased significantly over the past five years or past 12 months, or is a new drug that may have a significant impact on the cost benchmark. 2. The Office of the Attorney General will require the manufacturers of these identified drugs to provide justification for the price increases, including factors contributing to the increases and their respective percentages. 3. The Attorney General will provide an annual Prescription Drug Transparency Report to the legislature, the Health Policy Commission, and the Center for Health Information and Analysis, which will also be made public. 4. Manufacturers will be required to report to the Health Policy Commission on any planned price increases of 10% or more over a 12-month period, or the introduction of a new drug that may threaten the cost benchmark. The report must include detailed information about the price increase and the manufacturer's financials. 5. The bill also amends an existing law to require the Health Policy Commission to include prescription drug manufacturers as witnesses in their annual public hearings on healthcare cost growth.

Health and Social Services

https://malegislature.gov/Bills/191/H1162