The letters, sent by Nevada’s HHS told drugmakers they faced hundreds of thousands of dollars in fines for either failing to submit required drug-pricing data or failing to meet the deadline to submit the data.
The drugmakers are allowed an informal dispute resolution before the cases are referred to the state attorney general, according to the report.
Nevada was one of the first states to pass a drug price transparency law, but it only applies to diabetes drugs. The law requires drugmakers to report pricing histories, disclose current costs and notify state officials and insurers in advance of price hikes above inflation. They must also explain the factors that led to price hikes and report rebates paid to pharmacy benefit managers. PBMs must also disclose rebates paid to health plans.
More than half of the drugmakers that received a letter have now sent complete reports of the required data, a Nevada HHS official told STAT.
Read the full article here.
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