A poll found the vast majority of adults support letting the federal government negotiate drug prices for Medicare beneficiaries and those in private health insurance plans.
The state’s Prescription Drug Price Transparency Program was created to illuminate pharmaceutical pricing practices, but pharmaceutical companies have shielded information they say infringes on trade secrets.
The Oregon Department of Consumer and Business Services would step in if a drug exceeded $10,000 or had cost increases greater than 3.4 percent. State regulators would index a price according to what other countries have negotiated for the drugs. Consumers would also see a cap on costs that they pay out-of-pocket.
