Dozens of groups are urging New York lawmakers to back a provision in Gov. Kathy Hochul's $227 billion budget plan meant to expand prescription drug price transparency measures.
The groups, including AARP New York and more than 40 organizations that represent doctors, communities of color and clergy, are backing the proposal, which would require drug manufacturers to report planned price increases in advance.
The proposal is also meant to expand the authority of the state government to investigate potential price hikes and disclose agreements that have delayed access to less expensive generic drugs.
Aspects of the provisions were included in the state Senate's budget proposal last week; the state Assembly has typically shied away from non-fiscal related policy in budget proposals.
“It’s nothing short of outrageous that Americans continue paying three times more for the same prescription drugs as people in other countries while prices here continue skyrocketing,” said AARP New York State Director Beth Finkel. “It would be just as outrageous if our state leaders don’t at least take the modest step of ensuring New Yorkers know what they’ll have to pay for the medications they need. And if other states’ experience is a guide, transparency could well lead to smaller and fewer price hikes in New York.”
If approved, drug makers would have to explain the reasons for why prices are increasing and either disclose or ban "pay to delay" agreements in which brand name makers pay generic manufacturers off the market.