What the legislation would do: This measure, SB 1010, would have required health plans to report detailed information on pharmaceutical drug costs, such as the most prescribed and most costly medicines, to state regulators. It would also have required drug manufacturers to give notice of future price hikes to insurance companies, pharmacy managers and the state agencies that buy prescription drugs.
The latest: The measure was substantially amended in the Assembly Appropriations committee to increase the threshold under which drug makers would have to report price increases and to delay the notice requirement for one year. After days of considering the changes, the bill’s author, Sen. Ed Hernández (D-West Covina), said the new version would not accomplish his goal of transparency and decided to pull the bill.
Back story: Proponents of this bill included health insurers, labor groups and consumer advocates, while pharmaceutical companies were opposed. The bill set off one of the fiercest lobbying battles of the year before being shelved; Hernández and his supporters vowed to revisit the issue next year.