There's a bipartisan push to force pharma to justify price hikes

An influential Senate committee got behind a law that would require drug companies to explain any price hikes that exceed 10% in a year or 25% in a three-year span, a bipartisan idea that could make its way to the president’s desk.

As STAT’s Lev Facher reports, the proposal would be an amendment to a broader health care bill already under deliberation, one that includes measures affecting how pharmacy benefits managers charge for drugs and how branded firms thwart generic competition.

If it passes, drug companies would be required to supply the federal government with justifications for price increases, detailed accounting of drug’s revenue, the company’s marketing expenditures, and money spent on R&D.

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