GOP lawmaker restarts Nevada bid for insulin price controls
CARSON CITY, Nev. (AP) —
A Nevada legislative leader is reviving an attempt to impose price controls on insulin, with a proposal to rein in prescription drug market middlemen.
Republican Sen. Michael Roberson released legislation Monday that would require pharmacy benefit managers to pass on to insurance companies at least 80 percent of their favorable insulin rates.
The bill aims to ultimately lower patient costs.
Insurers contract with PBMs to develop drug formularies and negotiate discounted prices with prescription drug manufacturers.
The bill would require pharmaceutical companies to publicly justify any insulin price hikes greater than annual inflation.
Roberson's bill responds to an insulin-price transparency measure from Democrats, who control the Legislature.
The Democratic bill originally sought insulin refunds, but sponsors deleted that provision over legal questions.
Roberson says legislative attorneys have made no such warnings about his measure.