California drug makers are using their monopoly power
California drug makers are using their monopoly power against the people of California. Right now, these corporations have free rein to hike up drug prices at a moment’s notice and keep drug purchasing data secret, leaving Californians in the dark.
Sen. Hernandez has introduced Senate Bill 17, which will hold drug makers accountable by demanding greater transparency. This bill has already made it through the state Senate, and the Assembly is considering the measure right now.
Senate Bill 17 will:
- Require drug makers to publish data about purchasing trends, including drug prescription and pricing data.
- Prevent drug companies from dramatically raising prices without warning by requiring drug companies to give 60 days’ notice to purchasers before making major increases to drug prices.
- Require health insurance companies to disclose what portion of premiums go towards prescription drugs.
This legislation will empower purchasers to make cost-effective health care decisions based off newly-available information pharmaceutical companies have to provide. With more transparency, SB 17 will help keep costs down for Californians.
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Thanks for taking a stand,
— NextGen America