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Published/Posted By: The Providence American
Posted: January 22, 2018

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  • Regunberg introduces bill to lower high cost of prescription drugs

    STATE HOUSE – Rep. Aaron Regunberg has introduced
    legislation to create greater transparency in the prescription drug industry
    and to protect consumers from unreasonable prices for certain high value drugs.



     



    “Everywhere I go across our state, I hear a similar concern
    — the monstrous cost of prescription drugs,” said Representative Regunberg
    (D-Dist. 4, Providence). “From my next-door neighbors in Providence, to
    families in South County, to elders in the East Bay, Rhode Islanders are forced
    to make upsetting and unacceptable choices between their prescriptions on the
    one hand and their groceries, housing and basic needs on the other — all while
    pharmaceutical corporations and their CEOs see profits soar. That’s why the
    first new piece of legislation I introduced this year is a bill requiring cost
    transparency and limiting the maximum allowable prices that manufacturers may
    charge for certain high-cost drugs. The pharmaceutical industry has incredible
    influence and power. We need policies designed for all of us who can’t afford
    corporate lobbyists.”



     



    The bill (2018-H 7042),
    which Representative Regunberg introduced Jan. 3, would establish a board of
    pharmacy to examine how prescription drug manufactures set the price for
    certain prescriptions, and give it the authority to set a maximum allowable
    price to protect the Rhode Island consumers.



     



    The board of pharmacy would work with the Department of
    Health to create an annual list of critical prescription drugs for which there
    is a significant public interest in understanding the development of pricing.



     



    Manufacturers of these listed drugs would share information
    with the board including the cost of research, production, and marketing for
    those drugs. If the board determines that the price of a drug is significantly
    high given the manufacturers’ costs, it would have the authority to protect
    consumers by setting a maximum allowable price that manufactures can charge for
    it.



     



    The process would be a way to prevent price-gouging in an
    industry upon which many patients’ lives depend, said Representative Regunberg.



     



    The soaring price of EpiPen, the life-saving injectable
    device that can stop anaphylaxis, drew attention in recent years after the
    price of a two-pack rose from $103.50 in 2009 to more than $608.61 in 2016.
    (EpiPen manufacturer Mylan introduced a generic that costs $300 as a result of
    the controversy.) The year before, Turing Pharmaceuticals acquired rights to
    Daraprim, a drug used to treat the parasite-borne disease toxoplasmosis,
    and raised its price by 5,000 percent, from $13.50 per pill to $750. Sovaldi, a
    highly effective drug for hepatitis C —  is $1,000 per pill, or $84,000
    for the 12-week course of treatment.



    The bill is co-sponsored by Rep. Lauren H. Carson (D-Dist.
    75, Newport), Rep. Gregg Amore (D-Dist. 65, East Providence), Rep. Patricia A.
    Serpa (D-Dist. 27, West Warwick, Coventry, Warwick) and Rep. James N.
    McLaughlin (D-Dist. 57, Cumberland, Central Falls).

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