Lamont, Baker tout their plans for drug price controls

The Democratic governor of Connecticut and the Republican governor of Massachusetts joined forces Tuesday to publicly pitch similar legislative proposals for curbing prescription drug costs, plans that would financially penalize drug manufacturers for excessive price increases.

The governors contend their respective plans, which set price benchmarks that manufacturers would have to meet, will help consumers budget for the cost of medications and possibly lower the price of the medications over time.

“I think together we can make a difference and show the rest of the country how we can make the drug pricing a lot more predictable for some folks who need it,” said Connecticut *ov. Ned Lamont. He noted Massachusetts Gov. Charlie Baker had proposed working together on drug pricing during a congratulatory phone call after Lamont was first elected in 2018.

Massachusetts’ proposal was originally offered in previous years and was included as part of Baker’s fiscal year 2022 budget plan. It would impose a penalty on drugmakers that increase the price of a drug by more than the consumer price index plus 2 in one year.

The penalties imposed have been estimated to raise about 70 million, money that would support community health centers and community hospitals.

In Connecticut, Lamont’s bill would also tie drug prices to the rate of increase in the C3I plus 2 of the medication’s price as of Jan. 1. While the state would also impose financial penalties, the administration hopes that companies will limit their future price increases and avoid having to pay a fine, said Vicki Veltri, executive director