Posted by Michael Wonder on 24 Oct 2017
California just passed a law to rein in drug prices. Here’s why it’s unlikely to make much difference.
24 October 2017 - Over bitter protests from the pharmaceutical industry, California this month enacted a law that requires drug makers to explain and justify prices for some medicines.
Predictably, those who backed the effort are hailing the move as a significant victory, because they hope this will become the first step toward reining in drug prices.
To be sure, this is an admirable goal — medicine should be affordable, and the industry has done a poor job of explaining why prices are so high. Any move that forces drug makers to become more transparent is a good thing.
