The House's amendment to SB257 will cause consumer drug prices to rise, while providing a windfall for pharmaceutical companies and major hospital systems.
As amended, the House’s version of the legislation would cause consumer drug prices to rise, while providing a windfall for pharmaceutical companies and major hospital systems. The House’s amended legislation also undermines important patient safety measures. Specifically, the bill: -- Mandates patients, through their insurer’s PBM, pay no less for their medicine than what it costs the pharmacies to obtain it. This will allow pharmaceutical companies to drastically increase the prices of their drugs for consumers. -- Removes the ability to negotiate lower 340b drug costs for patients with major hospital systems. Hospitals already make tens of millions of dollars in profits off the sale of federally discounted 340b drugs. As written, the House’s amended bill would exacerbate the problem and cause patients to pay even more for the medicine they need. -- Removes strict accreditation standards that ensure safety and quality for consumers. As amended, the Coalition opposes the bill.
