KEI Notes on California Assembly Health Committee Markup on AB 463 Pharmaceutical Cost Transparency Act of 2015
Yesterday (April 21,2015) the California Assembly held a Health Committee hearing to discuss various bills being offered, including Assembly Member Dan Chiu’s AB 463, titled the Pharmaceutical Cost Transparency Act of 2015.
AB 463 calls for the pharmaceutical industry to annually report its costs for developing and manufacturing a drug (for any course of treatment over $10k). The bill seeks to provide audited information on R&D costs, a topic for which the industry often makes unsupported and exaggerated claims.