Virginia Lawmakers Turn Back Transparency Bill for Drug Marketing Costs
RICHMOND, Va. (AP) - Legislation to make drug makers reveal how much they spend marketing high-priced drugs appears dead before the Virginia General Assembly.
Senators said the bill wasn't ready for prime time, but was an issue worth reviewing next year after further study. A panel voted Thursday to pass the bill on to next year.
Health insurers pushed the legislation, saying more transparency about drug prices would help deter bad actors in the pharmaceutical business from price gouging.
Drug makers pushed back, saying it unfairly singled out pharmaceuticals for rising health care costs and would inhibit Virginia's efforts at growing its bio-tech industry.
Doug Gray, executive director of the Virginia Association of Health Plans, says he is encouraged lawmakers are willing to continue discussing the issue.