At least 10 states are pondering a radical approach to putting a leash on soaring drug prices: force drug companies to explain how they arrived at the price of their costliest new drugs.
The approach is radical not in the sense that it’s a new idea, but in the sense that it hasn’t been tried before. The idea is that the prices of some blockbuster new drugs—and some hard-to-get old drugs—are opaque. The only source for the cost of research and development or acquisition in the drug business is Big Pharma itself. The industry is anything but a reliable source, as