Recognizing the real impact of prescription drug costs on Washington citizens’ pocket books and the state budget, Sen. Kevin Ranker, D-Orcas Island, introduced bipartisan legislation to bring transparency to prescription drug costs. Senate Bill 5586 was heard in the Senate Health Care Committee today.
“People who rely on prescription drugs for their health are finding them increasingly expensive to purchase,” Ranker said. “Consumers should have the confidence that the manufacturer is charging a fair price.”Senator Ranker
“Last year, health care costs in the state budget increased $384 million under managed care accounts; about $246 million of that was attributed just to prescription drug costs,” Ranker said. “With clear and up-to-date information, we can work to contain prescription drug costs.”
Ranker’s Senate Bill 5586 would require pharmaceutical companies to make their pricing, research, and development as transparent as the pricing in other sectors of the health care industry by reporting a breakdown of those costs to the Legislature.
“The cost of prescription drugs can push a household to the brink in some cases,” Ranker said. “No one should have to choose between getting the medication they need and making risky choices like rationing their meds or going into debt to afford their medication.”