Health insurers, pharmaceuticals feud over drug cost bill
(AP) – Two lobbying behemoths have been quietly duking it out behind the scenes at the Virginia General Assembly over a whether drugs companies should have to open up their books.
Health insurers are pushing legislation that would require pharmaceutical companies publish the cost of developing, manufacturing, and marketing the prescriptions that cost $10,000 or more for a single course of treatment.
Insurers said the legislation is a straightforward transparency measure that would help the public better understand where their health care dollars go. Pharmaceutical companies said the bill would not provide an accurate look at the true costs and benefits of their products, and suggest the legislation is the first step toward government-related price controls that would stifle future innovations.