In late May, Maryland became the first state to take a definitive legislative approach to address “price gouging” in the pharmaceutical industry. Is Maryland the first of other state and federal initiatives?
House Bill 631, the “Prohibition Against Price Gouging for Essential Off-Patent or Generic Drugs,” specifically prohibits price gouging on certain drugs, and also grants the attorney general legal authority to enforce the law.
The law is slated to go into effect Oct. 1 this year.
But other states are also looking at ways to counter the phenomenon among pharmaceutical companies.
New York currently has two bills, Senate Bills S2402 and S2544, which would effectively bar price gouging. Oregon has a similar bill, SB793, under consideration in the state’s Senate.