VOTE: NO – Died In Committee
Status (overview) of bill:https://olis.leg.state.or.us/liz/2017R1/Measures/Overview/HB2387
This bill restricts pharmaceutical manufacturer from charging what they want for prescription drugs. Requires a minimum 60 day notice before the price hike over a 3.4% increase within a years time. There will be an undetermined amount per day fine for failure to comply.
Personal Choice and Responsibility
One of the bonuses of working hard and getting ahead is choice to choose the rewards of that effort and not being restricted by the state.
The negotiation here needs to be between insurance companies and Pharmaceutical companies. What happens when inflation goes up to 5 or 6 percent, this will force them to wait 60 days after discovery before they have a possibility of recovering their costs.
The government seeks to limit what private industry provides by supply and demand. A state cannot control drug pricing. They will leave the state, leaving Oregon with only generic brands and new drugs will not be available forcing people to go out-of-state for their drugs.
The control of the price as well as other factors should be controlled locally (at the suppliers level) not at the state.
Free market is a market that is allowed to float with the concept of supply and demand not the state dictating what can be charged for a product. If they do not desire to pay the price being charged they do not have to purchase the product.