HB 1135 - Prescription Drug Transparency Act (Passed)

[Southern Senator North Carolina Yankee]

I feel like this is information that would be known to the FDA if not the public already, considering the rigorous guidelines that drugmakers and pharmacists are held to with regard to record-keeping, among other things.  I would be interested to know if any event in particular encouraged the sponsor to introduce this bill.

It generally isn't, no - there are no disclosure requirements that currently exist similar to those proposed in this legislation. The FDA certainly receives some testing data, but even they receive little financial information.

This legislation is inspired specifically by Mylan's EpiPen price increases, but there's been a broader trending of price increases across the pharmaceutical sector. If Mylan or any other company is increasing prices because they're spending more on R&D, then I think it'd be useful - for them and for us - for the public to know that. And if Mylan is spending more because they're spending more on marketing or executive compensation, I think that ought to be known too.

[Southern Senator North Carolina Yankee]

People like to think that healthcare is a single pronged thing where you just pass a single law assuring access, and that is that. But in reality, and a good part of why real life attempts have failed is that you have address it in layers.

Once you assure access, or in this case, before, you have basically a situation of procurement. Doctors buying supplies, patients buying medicines and prescriptions. Doctors buying liability insurance to cover against lawsuits. Medical Students borrowing excessive amounts to fund medical score, leading to tremendous interest and debt payments once they become doctors.

All this expense gets funnelled down like a basketball through a garden hose and dumped into insurance payments, and rising costs of programs like Medicare and Medcaid.

Regardless of how much you consolidate, and most certainly if you expand access, all of these problems have to be addressed to actually deliver on any promise of "equal access". Transparency on these costs will help in my opinion lead to greater awareness and hopefully some downward pressures on the exorbitant costs of drugs.

Therefore this bill has my support and I move to be its sponsor in the House.

Representatives have 48 hours to object.

[Southern Senator North Carolina Yankee]

Without objection, I am now sponsor.


Any further questions, comments or concerns?

[Southern Senator North Carolina Yankee]

I move for a final vote.

[Southern Senator North Carolina Yankee]

AYE