Dahms celebrates passage of Prescription Drug Transparency Act

Minnesota State Senator Gary Dahms of Redwood Falls on Wednesday noted the Senate’s passage of a bill he co-authored to make prescription drug costs more transparent and more affordable. By an bipartisan vote of 63-2, the Senate approved Senate File 1098, the Prescription Drug Transparency Act.

Dahms stated, “Consumers deserve transparency and accountability from the pharmaceutical industry. This is a reasonable bill that empowers the consumer and simply asks pharmaceutical companies to justify the prices they charge. Getting prescription drug costs under control will make a big dent in families’ overall cost of health care.”

Under the legislation, drug manufacturers must submit information about drugs that have seen price increases of 10% or more over the last 12 months or 16% or more during the previous 24 months for name brand drugs, or generic drugs that have had price increases of 50% or more during the previous 12 months.