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Drug Companies Would Have to Disclose Profits, Production Costs, Under New Bill
capital public radio

Democratic Assemblymember David Chiu’s bill would require that production costs associated with medications priced more than $10,000 a year be reported to the State of California. He says drug prices are too high.

“Impacting the overall cost of delivering health care, threatening the long term success of health care for all, and putting enormous cost pressures on state and local governments,” says Chiu.

But University of Southern California pharmaceutical economics professor Jeff McCombs says the bill is a first step towards government regulation of drug pricing. And that would stifle innovation that could cure disease.

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