Minnesota lawmakers want board to regulate drug prices
ST. PAUL, Minn. – Minnesota Democratic lawmakers want to create an independent board to regulate excessive prescription drug prices following a bipartisan effort last year to make insulin more affordable.
Their idea went before a Minnesota House committee on Tuesday.
The legislation would establish an independent board and an advisory council that would review the costs of new brand name prescription drugs. The board would set upper payment limits for drug prices it determines are unaffordable.
The legislation follows the Alec Smith Insulin Affordability Act that established a safety net program for diabetics who can’t afford the live-saving drug.