Oregon governor signs bill targeting rising prescription drug prices

Pharmaceutical manufacturers must disclose their reasons for raising the price of a drug by more than 10 percent under transparency legislation – House Bill 4005 — Oregon Gov. Kate Brown signed into law.

Oregon joins California, New York and a handful of other states in adopting so-called “transparency laws” aimed at combating rising prescription drug prices.

When the price of a prescription drug increases more than 10 percent, Oregon law will now require the manufacturer to report what’s behind the increase to the Oregon Department of Consumer Business Services. Drug-makers must disclose information related to production, marketing and research. Pharmaceutical companies will also be required to disclose their profits from the drug and whether generic alternatives are available.

Oregon joins California, New York and a handful of other states in adopting so-called “transparency laws” aimed at combating rising prescription drug prices.

House Bill 4005 enjoyed bipartisan sponsors and overwhelming support by members of the House and Senate. The legislation was also endorsed by several consumers posting on the Voices For Affordable Health Facebook page.

“Love to hear when Oregon does good things! I lived there for many years,” wrote Sandy Robb.

Others asked for more.

“It’s a start but does not go far enough – we need to get the prices the same as anywhere in the world here in the USA,” posted Paul Scherer of Boise, Idaho.

Have you or someone you love been affected by rising Rx costs? Share your story with Voices for Affordable Health.