California shows Trump a thing or two about cutting drug costs
When it comes to reducing the cost of prescription medicines, where US President Donald Trump has increasingly failed, a new price transparency law in California appears to be succeeding.
The new law, called SB-17, requires drugmakers to give government, insurers and other payers advance notice of increases over a certain amount.
Apparently as a result of the law coming into effect, Switzerland’s Novartis (NOVN: VX) and Roche (ROG: SIX), as well as Gilead Sciences (Nasdaq: GILD) and Novo Nordisk (NOV: N), have either cancelled or reduced planned price increases for over 10 different products.
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