Post by Logan on Feb 1, 2016 18:49:02 GMT -6
Health insurers, pharmaceuticals feud at General Assembly over drug cost bill
RICHMOND — Two lobbying behemoths have been quietly duking it out behind the scenes at the Virginia General Assembly over a whether drugs companies should have to open up their books.
Health insurers are hoping to capitalize on the public's concern about prescription drug prices with legislation that would require pharmaceuticals to publish the cost of developing, manufacturing, and marketing of drugs that cost $10,000 or more for a single course of treatment.
Supporters said the legislation is a straightforward transparency measure that would allow the public to better understand where their health care dollars go. Pharmaceutical companies said the bill would not provide an accurate look at the true costs and benefits of their products, and suggest the legislation is the first step toward government-related price controls that would stifle future innovations.
Both sides have given millions of campaign donations in past years and have a heavy Capitol lobbying presence.
Read more: www.roanoke.com/news/politics/general_assembly/health-insurers-pharmaceuticals-feud-at-general-assembly-over-drug-cost/article_e17412e6-d1c1-5768-a01b-0af821d74471.html
RICHMOND — Two lobbying behemoths have been quietly duking it out behind the scenes at the Virginia General Assembly over a whether drugs companies should have to open up their books.
Health insurers are hoping to capitalize on the public's concern about prescription drug prices with legislation that would require pharmaceuticals to publish the cost of developing, manufacturing, and marketing of drugs that cost $10,000 or more for a single course of treatment.
Supporters said the legislation is a straightforward transparency measure that would allow the public to better understand where their health care dollars go. Pharmaceutical companies said the bill would not provide an accurate look at the true costs and benefits of their products, and suggest the legislation is the first step toward government-related price controls that would stifle future innovations.
Both sides have given millions of campaign donations in past years and have a heavy Capitol lobbying presence.
Read more: www.roanoke.com/news/politics/general_assembly/health-insurers-pharmaceuticals-feud-at-general-assembly-over-drug-cost/article_e17412e6-d1c1-5768-a01b-0af821d74471.html