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Drug price transparency law on governor’s desk | PortlandTribune

SALEM — A bill to require pharmaceutical manufacturers to disclose reasons for steep increases in the price of prescription drugs is headed to Gov. Kate Brown’s desk for a signature.

The Oregon Senate voted 25 to 4 Friday, March 2, to make the bill law, following overwhelming approval in the House earlier this week. Consumers advocates testified that House Bill 4005 is an important step toward understanding the cost of health care and developing policies to address it.

“House Bill 4005 is an urgently needed measure to create transparency and accountability to help address the rising cost of prescription drugs, and its passage today is a big win for Oregon consumers,” said Jesse Ellis O’Brien of the Oregon State Public Interest Research Group. “In an overwhelming bipartisan vote in both chambers, Oregon lawmakers stood up to the powerful pharmaceutical industry and did the right thing.”

When the price of a prescription drug increases greater than 10 percent, the bill requires the manufacturer to report the reasons to the Oregon Department of Consumer and Business Services, including information related to the cost of production, marketing and research. Manufacturers face civil penalties of up to $10,000 per day for noncompliance.

The proposed program is modeled after one recently approved in California.

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Pamplin Media Group – Drug price transparency law on governor’s desk.