This Wednesday afternoon, Dec. 8, the public is invited to see drug price data the state has collected this year and to share their experiences with drug prices during a virtual public hearing.
Mark Peterson is with the Oregon Department of Consumer and Business Services. He says the hearing is part of the 2018 Prescription Drug Price Transparency Act.
“The goal of the program is to provide accountability for prescription drug pricing, through the notice and disclosure of specific drug costs and price information from pharmaceutical manufacturers, health insurers and consumers," he says.
The law requires drug companies to report drug price increasesabove certain thresholds. It also requires health insurers toreport the impact of those price hikes on insurance premiums.
After the hearing, the department will compile an annual report on their findings, which is given to the Oregon Legislature, and released to the public.
You can access the hearing from 1:00 to 3:00 p.m. on Wednesday, May 8 with this link.
