Home » Bill to Force Drugmakers to Justify Price Hikes Unveiled in Congress
Bill to Force Drugmakers to Justify Price Hikes Unveiled in Congress
A bipartisan group of Senate and House members has introduced a bill that would require drugmakers to justify price rises of more than 10 percent.
The Fair Accountability and Innovative Research Drug Pricing Act would require drugmakers to notify HHS of proposed price hikes 30 days before the increase would take effect. Additionally, drugmakers would have to submit a report to the agency justifying the rise in price.
In the report, drugmakers would not only explain the reason for the increase, but also the cost of developing, manufacturing, and advertising the drug. The report would include net profits from the drug and any other relevant information.
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