Nevada Fines Drugmakers $17 Million for Not Reporting Diabetes Drug Prices

Nevada’s Department of Health and Human Services sent penalty letters to 21 drugmakers —  totaling $17.4 million — for failing to file pricing reports on their diabetes drugs.

The state’s 2017 law requires drug manufacturers to report annually on essential diabetes drugs, including any financial assistance to patients and costs associated with coupons, as well as factors that contributed to any price increases.

The legislation also imposed penalties of up to $5,000 for each day that companies fail to comply with the reporting deadlines. The companies were first notified in August that they were not in compliance and warned that penalties could be on the way.