Global News

California enacts drug pricing transparency bill

California enacts drug pricing transparency bill

Indeed, some experts have said transparency alone is not enough to bring down drug prices, and that California's law may lack the muscle being applied in other states to directly hold drug prices down.

The law requires companies to notify insurers and government health plans at least 60 days ahead of any planned price increase which exceeds 16% over a two-year period. The law paves the way for other states to follow, says Reuters.

SB 17 by itself will not entirely solve the problem of skyrocketing prices for prescription drugs, but it is a critical first step toward holding the pharmaceutical industry accountable.

In a signing ceremony, Brown said "Californians have a right to know why their medication costs are out of control, especially when pharmaceutical profits are soaring". "While Congress debates cutting coverage and care, this new California law sets national policy, breaking new ground to benefit patients and purchasers against unfair and unjustified prescription drug price hikes", said Anthony Wright, executive director, Health Access California, the statewide health care consumer advocacy coalition, and a co-sponsor of SB 17 with the California Labor Federation and UNITE HERE.

State agencies will be directed to buy more clean-burning cars and trucks over the next decade and a half under a pair of bills signed by Brown, in both cases expanding goals that were put in place just a few years ago.

California's governor has chose to sign a drug pricing bill that deals a blow to drugmakers-and to their lobbyists who've been fighting strenuously against the measure.

Jon Stewart visits 'Late Show' to defend President Trump but fails splendidly
And what kind of a sociopath would use that terminology when people are still literally cleaning up from storms? Stewart fumed, tapping into his old Daily Show-style rage.

Beginning October 1, 2018, the California Office of Statewide Health Planning and Development [official website] will be required to collect data from manufacturers and report to the California Research Bureau [official website] specified changes in manufacturing and distribution, including increased drug prices.

"The legislation the governor signed into law seriously jeopardizes the future of California's leadership in this innovative industry", Gary Andres, Biotechnology Innovation Organization spokesman, said in a statement.

The measure, Senate Bill 17, was crafted to shed light on rising prescription drug costs and force the pharmaceutical industry to justify its prices going forward.

With this bill, California is pulling back the curtain to expose surprise price hikes before they happen, and shining some much-needed sunlight on what goes into the price of a drug.

PhRMA further argues that SB17 ignores the value drugs bring to the healthcare system and the fact that they are a minority of overall healthcare spending. Ed Hernandez, D-Azusa, the bill's author.


  • Cisco Systems, Inc. (CSCO) Rating Reiterated by Jefferies Group LLC

    According to Finviz reported data, The SMA20 of the stock is at 2.08 percent, SMA50 is 4.98 percent, while SMA200 is 4.68 percent. The company was upgraded on Tuesday, March 29 by SunTrust. (NASDAQ: CSCO ) earned "Buy" rating by Jefferies on Friday, May 26.
    Microsoft confirms a further nail in the Windows Phone coffin

    Microsoft confirms a further nail in the Windows Phone coffin

    It can be recalled that Windows Phone had gained popularity for the interactive interface which impressed tech critics. Belfiore sums it all up nicely, saying that it was "very hard" to get more app developers onboard the platform.
    Yogi Adityanath plans Lord Ram's grand statue in Ayodhya

    Yogi Adityanath plans Lord Ram's grand statue in Ayodhya

    A no-objection certificate (NOC), is yet to be obtained from the National Green Tribunal (NGT). A Ram Katha gallery, an auditorium in Digambar Akhada are also in government's plan.
  • Microsoft (MSFT) Reaches $76.54 52-Week High; Cambrex (CBM) Has 0.99 Sentiment

    Gierl Augustine Investment Management Inc raised its position in shares of Microsoft Corporation by 0.3% in the first quarter. The American Assets Investment Management Llc holds 134,295 shares with $9.26 million value, down from 141,505 last quarter.
    UR grad wins Nobel Prize in economics

    UR grad wins Nobel Prize in economics

    That “incorporates more realistic analysis of how people think and behave when making economic decisions, ” it said. Thaler will receive a 9 million kroner ($1.1 million) cash prize for his work.
    Fukushima court orders TEPCO, state to pay compensation

    Fukushima court orders TEPCO, state to pay compensation

    The responsibility for the catastrophe at Fukushima is incurred by the government and the company Tepco, said the court . About 30 similar group lawsuits have been filed throughout the country in relation to the nuclear accident.
  • United Kingdom  race relations: Major report on inequality set to be published

    United Kingdom race relations: Major report on inequality set to be published

    Its aim is to challenge society to " explain or change " the racial inequalities it unearths. A specialist unit, run from the Cabinet Office, will co-ordinate the Government's work.
    Budget 2018 To Be Revealed This Afternoon

    Budget 2018 To Be Revealed This Afternoon

    Taoiseach Leo Varadkar said there would be "no fireworks" and no "big bonanza" as Budget 2018 was unveiled today. It's expected USC will be slightly reduced, while welfare benefits and pension payments will be raised slightly.
    YouTube bans gun conversion tutorials

    YouTube bans gun conversion tutorials

    The company says that the decision is an expansion of a pre-existing policy it has against "harmful and unsafe content". The Google-owned video site has been used to share instructional video showing how to adapt guns in the same way.
  • Arrest warrant issued for man brutally beaten at Charlottesville rally

    Arrest warrant issued for man brutally beaten at Charlottesville rally

    He described the victim as a member of a white supremacist group and maintained that his client did not instigate the fight. Lee Merritt , an attorney for Harris, told The Washington Post the charge is "clearly retaliatory".
    U.S.  imposes 300% import tariff on Bombardier

    U.S. imposes 300% import tariff on Bombardier

    Specifically, Boeing charges that Bombardier past year sold Delta Air Lines 75 CS100 aircraft for less than it cost to build them. Bombardier shares dipped 2 cents to C$2.18 immediately after the announcement but have since recovered.
    Destiny 2 Iron Banner Event - Everything you need to know

    Destiny 2 Iron Banner Event - Everything you need to know

    It does not matter how high or low your Light is, as long as you've beaten the main campaign then you can enjoy this PvP activity. Among the rewards of this event, the most coveted would have to be the Iron Banner prestige armor, shown in the video below.