An Act to promote transparency and prevent price gouging of pharmaceutical drug prices
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill aims to increase transparency in the pharmaceutical drug pricing system and prevent what is considered ‘price gouging.’ It seeks to require pharmaceutical manufacturers to disclose the factors that contribute to their drug prices, promoting greater public understanding of how these costs are determined. The bill also intends to establish a process for reviewing and potentially addressing excessive price increases for essential medications.
Key provisions
- Requires pharmaceutical manufacturers to report the research and development costs, manufacturing costs, and marketing expenses associated with their drugs.
- Establishes a process for reviewing proposed drug price increases to determine if they are considered ‘price gouging.’
- Mandates the Department of Public Health to create a public database of drug prices.
- Requires pharmaceutical companies to provide justification for significant price increases.
- Allows for the potential for state review and adjustment of drug prices in cases of extreme price gouging.
Who is affected
- Pharmaceutical manufacturers
- Patients
- The Massachusetts Department of Public Health
- Prescribers
Notable changes
- The bill introduces a mechanism for reviewing and potentially regulating drug prices, which is not currently present in Massachusetts law.
Bill text
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Sponsors
Official sponsors from legislative records.
2 on record
Primary sponsor
Cosponsor
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