WV Legislature Passes Rx Drug Transparency Bill

Thanks to the efforts of AARP West Virginia and the overwhelming support of the West Virginia Legislature, pharmaceutical manufacturers doing business in the Mountain State will be under increased disclosure and accountability requirements with the passage of Senate Bill 689.

The bipartisan legislation, approved by 33-0 margin in the West Virginia Senate and a 99-0 margin in the West Virginia House of Delegates, requires drug manufacturers who sell prescription drugs in West Virginia to provide cost information, changes in cost information, and prescription drug statistics to the State Auditor for publication on a searchable transparency website.

The legislation completed the legislative process on March 5, the 58th day of the 60-day regular session of the West Virginia Legislature. It now awaits signature by Gov. Jim Justice before becoming law.

Nearly 90 percent of West Virginia's 1.8 million residents take at least one prescription medication on a regular basis, a recent statewide survey conducted for AARP by Mark Blankenship Enterprises, a West Virginia-based opinion research firm. More than half our state’s residents report taking between two and five different prescription medications on a regular basis.

AARP believes it’s unfair that we pay the highest prices in the world and that many older adults have to choose between filling their prescriptions and buying food. For several years states have passed or been considering legislation that would require drug makers to report the reasons behind dramatic price increases. The laws require pharmaceutical companies to justify high launch prices and price hikes. The principle behind the legislation is that greater disclosure around market pricing will help drive down costs.

Prescription transparency laws bring accountability for drug manufacturers and provide West Virginia consumers with advance warning of increases in their drug costs, allowing them to seek lower cost alternatives with their health provider.

By requiring the pharmaceutical industry to provide specific information about their pricing practices, transparency laws encourage manufacturers to reconsider their standard practice of setting high prices when a drug first hits the market and then increasing those prices year after year. This legislation can help to bring some parity to the marketplace, particularly for our older citizens who face the greatest challenges with rising prescription drug costs.