Posted by Michael Wonder on 11 Jul 2016
California plans to shame drug makers who hike prices
11 July 2016 - Frustrated by the rising cost of prescription drugs, California health advocates hope sunlight and a dose of shame will discourage drug makers from raising their prices too quickly or introducing new medications at prices that break the bank.
They're promoting legislation that would require drug makers to provide advance notice before making big price increases. Pharmaceutical companies have come out in force against the measure, warning it would lead to dangerous drug shortages.
Attention to prescription drug pricing has mounted since Turing Pharmaceuticals bought an old drug commonly used with HIV patients and raised the price from $13.50 per pill to $750. The company's combative chief executive, Martin Shkreli, was widely castigated for the price hike.
