In a closely watched development, House lawmakers in Washington state passed a bill to create a prescription drug affordability board, a controversial tactic that a growing number of states are exploring as they seek to control the rising cost of medicines.
These initiatives are loosely modeled on rate-setting boards that regulate what public utilities can charge residents. In this instance, the Washington board would run “affordability reviews” to determine whether a medicine is priced at excessive levels or has sharply increased in price and, if that was found to be the case, set an upper-payment limit, according to this document.
The board would primarily focus on drugs that have been on the market for at least seven years, and specifically drugs costing more than $60,000 a year or that increase in price by more than 15% in a year (or more than 50% in a three-year period). The board will be able to review up to 24 drugs annually, and set payments for up to 12 per year, although the ability to set those limits would not begin until 2027.
This article is exclusive to STAT+ subscribers
Unlock this article — plus in-depth analysis, newsletters, premium events, and news alerts.
Already have an account? Log in
About the Author Reprints
To submit a correction request, please visit our Contact Us page.
