CEO DATELINE - NAM takes aim at state bills to reduce drug prices
CEO DATELINE - NAM takes aim at state bills to reduce drug prices
- March 25, 2019 |
- Walt Williams
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The National Association of Manufacturers has come out against proposed laws in four states seeking to reduce prescription drug costs, which the group alleges would erode intellectual property protections and make medications less safe.
The bills introduced in Michigan, Minnesota, Oregon and Utah tackle the issue in two different ways. The Michigan and Minnesota bills would require drug manufacturers to disclose pricing information, such as how much money they spend on marketing. The Oregon and Utah bills would allow the states to appeal to the federal government to import medications from Canada.
NAM claims the bills would harm pharmaceutical innovation and, in the case of importing drugs from Canada, expose U.S. residents to unsafe medicines.
"Manufacturers support efforts to increase access to affordable medicines, but these pieces of legislation are a classic example of how good intentions can lead to negative outcomes that fail to contain health care costs," said Robyn Boerstling, NAM's vice president of infrastructure, innovation and human resources policy.
The four bills are only the latest salvo in an ongoing policy fight over rising drug prices. At a federal level, lawmakers from both parties have called for legislation reining in what they view as exorbitant price hikes by the pharmaceutical industry.
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