Joyce unveils Prescription Drug Price Reporting Act

U.S. Rep. Dave Joyce (R-OH) last week introduced the Prescription Drug Price Reporting Act, which would require that all prescription drug manufacturers submit certain information for every drug marketed in the United States to the U.S. Department of Health and Human Services.

“The Prescription Drug Price Reporting Act brings accountability to our broken drug pricing system and combats the lack of transparency that has burdened Ohio families for far too long,” Rep. Joyce said on Nov. 22.

The same-named legislation, S. 1664, was introduced in May by U.S. Sen. Rick Scott (R-FL) in his chamber to create a public, consumer-friendly federal database of drug pricing information and to urge drug companies to explain any price increases, according to a bill summary provided by Rep. Joyce’s office.

“The high cost of prescription drugs is one of the biggest challenges facing our communities,” said Rep. Joyce. “On top of that, it’s next to impossible for patients to know the real cost of medications before they receive them.

“You wouldn’t buy a car — or make any other major purchase — without knowing how much it cost, so why do we force patients to make critical choices about their health without having that same information?” he added.

Specifically, the central federal database website created under the measure would include pharmaceutical list prices, average net price and aggregate manufacturer rebates, according to the bill summary, and would require each drug manufacturer to report financial and non-financial factors for any price changes.

“There’s no reason patients shouldn’t know exactly what their prescription drugs cost before they get to the pharmacy,” Sen. Scott said.

Rep. Joyce added that the bill will “empower patients with the information and tools they need to choose the care that best fits their personal health needs and financial situations.”