In just five years, spending on prescription drugs ballooned from $8.7 billion to $12.1 billion, marking a dramatic increase of 39% affecting many Californians.
Opponents of the proposed regulations argue it will raise health premiums for Californians by $1.7 billion in the first year and $20 billion over the next decade.
Wiener stated that regulating these companies is overdue and that the legislation must balance the needs of patients with the concerns of the industry.
Despite proposed amendments, Lopes from the pharmacy benefit manager lobby believes the bill still favors Big Pharma, ultimately hurting California patients.
#prescription-drugs #california-healthcare #pharmacy-benefit-managers #health-legislation #costs-of-medicine
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