Nevada tightens rules on insulin pricing

Transparency law strictest in nation for drug costs

CARSON CITY, Nev. - Nevada Gov. Brian Sandoval signed into law Thursday the nation’s strictest requirements for pharmaceutical companies to reveal how they set certain prescription drug prices.

The bipartisan legislation focuses on insulin — one of many life-sustaining prescription treatments sold in the U.S. at prices that have skyrocketed over the last decade.

The law requires drugmakers to annually disclose the list prices they set, profits they make and discounts they give market middlemen on insulin.

They must also give state officials written explanations of any insulin price hikes that surpass the previous year’s inflation rate, or are higher than twice the inflation rate of the previous two years.

Market experts have said transparency on its own will not lower patient costs.

But a leading bill sponsor, Democratic Sen. Yvanna Cancela of Las Vegas, argued that detailed pricing data can start conversations about seeking even stricter regulations and at least could equip patients with information they could use to sue manufacturers for price gouging.

Nevada’s focus on insulin struck a chord nationally. Supporters from across the country flooded the governor’s mailbox and email inboxes with letters urging him to sign the bill while patient organizations rallied proponents using social media.

The bulk of the legislation takes effect in October, but the first disclosures will be due on April 1, 2018.America’s three insulin manufacturers will face fines of $5,000 daily if they fail to provide the data without explaining why.

It was unclear whether opponents intend to comply with the law or challenge the rules in court. However, the leading organization of market middle-

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