N.J. bill would create drug price control panel

Measure, hailed by advocates, likely to face heavy opposition from pharmaceutical industry


A Senate panel advanced a bill over the objections of business groups Monday that would create a public board with the ability to cap prescription drug prices.

The measure, sponsored by Sen. Troy Singleton (D-Burlington) and Senate Majority Leader Loretta Weinberg (D-Bergen), would create a board with regulatory powers not yet seen in New Jersey. It cleared the Senate Health, Human Services and Senior Citizens Committee in a party-line vote.

The move comes as Democrats in Congress claim to have sealed a deal to lower drug costs for seniors by capping out-of-pocket Medicare costs, a plan that is part of a $1.75 trillion spending bill facing an uncertain future.

The New Jersey legislation is being hailed by progressive groups and advocates, who called the measure sorely needed and urged lawmakers to advance the bill without delay.

Read more: https://newjerseymonitor.com/2021/11/09/bill-creating-drug-price-control-panel-advances/