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Tue Feb 14, 2017, 06:25 AM

Oregon lawmakers introduce bill targeting out-of-control prescription prices

SALEM -- A pair of Democratic state lawmakers announced Thursday that they have introduced legislation aimed at making prescription drugs more affordable.

If the bill becomes law, drug makers that increase the cost of a medication faster than inflation or charge patients $10,000 a year for a single drug would have to pay insurers a rebate to offset the cost. The rebate would be the difference between the price the drug-maker charges in Oregon and the average price of the same drug in developed nations.

Rep. Rob Nosse, D-Portland, who is the bill's chief sponsor, and Sen. Elizabeth Steiner Hayward, D-Portland, told reporters that the cost of medication is too high for many Oregonians, and that pharmaceutical manufacturers are not transparent enough about how they price medications.

"It's a very interesting concept," said Nosse, who said most developed nations have tighter regulations on prescription drug prices than the United States.

Read more: http://www.oregonlive.com/politics/index.ssf/2017/02/oregon_lawmakers_introduce_bil_1.html

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