The proposal aims to increase transparency on prescription drug prices and requires negotiations with drug manufacturers over critical medications with significantly high costs.
Representative Deb Kolste said the bill would require the state’s insurance commissioner to question drugmakers on the cost of research and development, production and marketing.
“It’s simply a way for us to explain and or justify the cost of drugs. And many of these drugs are life-saving,” Kolste said, according to Wisconsin Public Radio.
Proponents of the bill cite a study done by economists at MIT and the University of California, Berkeley, showing transparency can have an effect on lowering prices.
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