US lawmakers seek further restrictions on drug price hikes

American lawmakers are reintroducing a bill that would limit the ability of pharmaceutical companies to raise drug prices, with tougher language to prevent medium-term hikes.

The Fair Drug Pricing Act, which was introduced last fall, seeks to improve transparency, patient access and affordability, by requiring companies to provide detailed information on costs and profits.

The legislation would also require companies to notify the government if they intend to increase prices on certain drugs by more than 10% in one year, or 25% over three years.