Nevada forces drugmakers to reveal insulin pricing, profits

Nevada Gov. Brian Sandoval signed into law Thursday the nation's strictest requirements for pharmaceutical companies to reveal how they set certain prescription drug prices.

The bipartisan legislation focuses on insulin — one of many life-sustaining prescription treatments sold in the U.S. at prices that have skyrocketed over the last decade.

The law requires drugmakers to annually disclose the list prices they set, profits they make and discounts they give market middlemen on insulin.

They must also give state officials written explanations of any insulin price hikes that surpass the previous year's inflation rate, or are higher than twice the inflation rate of the previous two years.

Read more: http://abcnews.go.com/Health/wireStory/nevada-forces-drug-makers-reveal-insulin-pricing-profits-48070353