Senate Passes Bill Requiring Transparency in Prescription Drug Pricing

The Senate gave its final approval Monday, April 20, to a bill intending to bring greater transparency to the setting of prescription drug prices. Sponsored by Senator Julie Rosen, R-Vernon Center, the measure would require drug manufacturers to explain drug price increases of 10 percent or more over a consecutive 12 month period or 16 percent during a 24 month period.

Among the information required when a drug price dramatically increases, the manufacturers would be required to list factors contributing to the price increase, the introductory price approved by the Federal Drug Administration (FDA), the net profit of the sale of the drug and any agreements between the manufacturer and another entity about delaying the production of generic alternatives.

In other action, the Senate also approved a bill that sets the minimum age for operating carnival rides at 16 years of age. The bill also would require safety and emergency training for the employed operator.