Maryland set to take on generic drug makers

A bill that will soon become law in Maryland is aimed at protecting you from generic drug makers trying to make money hand over fist.

"If the manufacturer raises their price within a 2 year period by 50 percent, they have to report to the state insurance commission why they're doing it.  It makes them accountable," said Matthew Balish, pharmacist for Pemberton Pharmacy.

He said  the accountability the bill adds is a plus for consumers.

"This in turn lowers your cost for your insurers which should translate to lower premiums and savings for the customers overall in the state of Maryland," Balish said.

The most notable price gouge was when Mylan raised their price on epipens. With the price raised by over 400 percent, it was an unaffordable expense for some patients.

"Epipen is a branded product, but the same thing happens with generic drugs, the prices go up exorbitantly, the insurers don't reimburse for that price difference, a lot of pharmacies stop stocking the product, again patients are harmed by this," Balish sadid.

According to Balish 90 percent of the drugs dispensed at your local pharmacy are generic. However he cautions this new bill won't mean a big difference in your co-pay. That's because your insurer negotiates prices.