New Mexico lawmakers hope to lower prescription drug prices by passing House Bill 33, which is currently awaiting the governor’s signature. “We want to make sure people can buy the prescription drugs they need, when they need them,” said Rep. Pamelya Herndon, who introduced the bill. House Bill 33 requires companies that sell or manufacture prescription drugs to submit data annually to track costs. Herndon said the bill would allow companies to be transparent about prescription costs. Twenty states have similar bills. “Prescription drug prices in these states have fallen significantly. They have not increased as fast as in other states, and we expected the same here in New Mexico,” Herndon said. If it becomes law, companies would have to report prescription drug prices and trends annually to the New Mexico Department of Insurance Commissioners. Parliament will then consider the results and make them available to the public. Both the House and Senate passed the bill unanimously. “Prescription drug prices are going through the roof, and doing everything we can to ensure transparency, create competition, and lower costs is critical not only for New Mexico but for the entire nation,” said Congresswoman Stephanie Lord. That’s a good thing.” The hope of this bill is also to provide relief to New Mexicans. “They’re going to know if prices are going to go up, and they can work with insurance companies and doctors and others to make sure we’re not paying higher prices than we have to,” Herndon said. I guess so.” The bill also states that companies will be subject to fines and fines if they do not submit the information. Lawmakers hope the governor will sign the bill into law before the March 6 pocket veto deadline. If the bill is vetoed, lawmakers could try to override the governor’s choice by calling a special legislative session. The last time a lawmaker did so was in May 2002.
New Mexico lawmakers hope to lower prescription drug prices by passing House Bill 33, which is currently awaiting the governor’s signature.
“We want to make sure people can buy the prescription drugs they need, when they need them,” said Rep. Pamelya Herndon, who introduced the bill. House Bill 33 requires companies that sell or manufacture prescription drugs to submit data annually to track costs.
Herndon said the bill would allow companies to be transparent about prescription costs. Twenty states have similar bills.
“Prescription drug prices in these states have fallen significantly. They haven’t increased as fast as other states, and we expected something similar here in New Mexico,” Herndon said.
If it becomes law, companies would be required to report prescription drug prices and trends annually to the New Mexico Department of Insurance Commissioners. Parliament will then consider the results and make them available to the public.
Both the House and Senate passed the bill unanimously.
“Prescription drug prices are through the roof, and doing everything we can to ensure transparency, create competition, and lower costs is critical not only for New Mexico but for the entire nation,” said Congresswoman Stephanie Lord. That’s a good thing.”
The hope of this bill is also to provide relief to New Mexicans.
“They’re going to know if prices are going to go up, and they can work with insurance companies and doctors and others to make sure we’re not paying higher prices than we have to,” Herndon said. I guess so.”
The bill also states that companies will be subject to fines and fines if they do not submit the information.
Lawmakers hope the governor will sign the bill into law before the March 6 pocket veto deadline.
If the bill is vetoed, lawmakers could try to override the governor’s choice by calling a special legislative session. The last time a lawmaker did so was in May 2002.
