A new state Senate billaims to minimize price increases of prescription drugs.
The bill would require pharmacy benefit managers to get approval from the state before increasing costs higher than the inflation rate.
Those managers act as intermediaries between insurance companies and pharmaceutical manufacturers.
The bill’s sponsor is Sen. Eva Burch, a Mesa Democrat.
"More than a quarter of Arizonans reported having stopped taking their medications due to cost alone. This is unacceptable. No one should be forced to choose between essential medications, and putting food on the table," Burch said.
She and Gov. Katie Hobbs spoke this week with reporters about how Arizona can address drug costs.
Hobbs said the bill would create the Prescription Drug Affordability Division in the state Department of Insurance and Financial Institutions. It would be in charge of approving or rejecting price hikes.
“The division will also require increased transparency on the rebates that pharmacy benefit managers are supposed to be using to lower costs for Arizonans, but in many cases aren’t," Hobbs said.
The measure would also let the division set cost limits for certain drugs.
