Oklahoma Enacts Generic Drug Pricing, Payment Transparency Law
National Community Pharmacists Association CEO B. Douglas Hoey, RPh, MBA, issued the following statement today in response to enactment of Oklahoma's S.B. 1150, legislation to boost transparency in generic prescription drug pricing and reimbursement.
ALEXANDRIA, Va. (May 10, 2016) - National Community Pharmacists Association (NCPA) CEO B. Douglas Hoey, RPh, MBA, issued the following statement today in response to enactment of Oklahoma's S.B. 1150, legislation to boost transparency in generic prescription drug pricing and reimbursement:
"NCPA thanks Governor Mary Fallin for signing this measure into law as well as the state legislators who supported passage of this bipartisan legislation. The law is good for all Oklahomans and is also an example for other states to consider in their efforts to address what are national issues.
"Two years ago Oklahoma's elected leaders enacted a bipartisan law (H.R. 2100) providing reasonable transparency into how generic prescription drugs are priced, reported and later reimbursed to pharmacies that dispense them to patients. That law was enacted because of the lack of transparency and negotiating leverage available to locally owned pharmacies. They were effectively forced to routinely dispense medications below their costs due to unreasonable reimbursement rates set by large, out-of-state corporate drug plan middlemen, entities referred to as pharmacy benefit management (PBM) corporations.
"Unfortunately, many of those same problems continue today because the PBM corporations have essentially ignored the law. S.B. 1150 is intended to close some existing loopholes and take needed steps to ensure a transparent and sustainable medication delivery system. Ultimately, Oklahomans will benefit from more transparency in health care and better access to community pharmacies, including the state's 464 locally owned pharmacies.
"NCPA congratulates Oklahoma's independent community pharmacists whose successful grassroots activism facilitated the enactment of this legislation. This would not have been possible without the efforts of Pharmacy Providers of Oklahoma, Inc. as well as the Oklahoma Pharmacists Association and all those who backed this law. NCPA was happy to support their efforts when called upon."