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Panel advances bill to create Prescription Drug Affordability Review Board after hours of testimony
Summary
House Bill 1724, proposing a Prescription Drug Affordability Review Board with authority to review large price increases and set upper payment limits, was reported by the Labor and Commerce Committee 12-9 and referred to appropriations after supporters and opponents debated triggers, scope and unintended consequences.
RICHMOND, Va.
The House Labor and Commerce Committee on Tuesday voted 12-9 to report House Bill 1724 and referred the measure to the Appropriations Committee. HB 1724 would establish a Prescription Drug Affordability Review Board that could review steep price increases and set upper payment limits for specified drugs.
The bill's patron, Delegate Danica Delaney, described the proposal as a response to rising out-of-pocket costs. "The cost of simply staying alive in Virginia is much too high," Delaney told members, saying the board would consist of medical and health-care professionals who could review price hikes and set upper price limits when appropriate. The bill would trigger reviews when a drug's price increases by more than 10 percent or $10,000 in a 12-month…
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