Legislative panel advances next steps to rein in prescription drugs costs

Requiring drug manufacturers to report pricing spikes, licensing pharmaceutical sales representatives and boosting the state’s purchasing power are among the legislative proposals being advanced by lawmakers for consideration during the 2021 Legislature.

The interim legislative committee on prescription drugs on Wednesday approved five bill draft requests — the maximum allowed. State Sen. Yvanna Cancela (D-Clark), who chairs the committee, said the broad range of proposals is an attempt to address the rising cost of prescription drug prices in a holistic way.

One of the proposals advanced would expand the existing reporting requirements on asthma and diabetes prescription drugs price increases to other medications. It’s a measure of transparency and data collection that several lawmakers and advocates say is necessary if the state is to tackle the complex issue of prescription drug pricing.

Manufacturers are currently required to report and explain any above-inflation price increases for prescription drugs considered essential to treating asthma and diabetes. Those reporting requirements were put in place by the Democratic-controlled legislatures during the 2017 and 2019 sessions. The bill draft being requested for the 2021 session would expand those requirements to encompass other medications whose prices increase beyond the consumer price index.

Read more: https://www.nevadacurrent.com/2020/09/10/legislaitivepanel-advances-next-steps-to-rein-in-prescription-drugs-costs/