On Monday, Gov. Phil Murphy signed into law a package of bills aimed at reforming prescription drug pricing. The laws establish certain data reporting requirements for prescription drug supply chains and new transparency standards, and require health insurance carriers to provide coverage for epinephrine auto-injector devices and asthma inhalers, among other measures, as well as limit cost-sharing for health insurance coverage of insulin.
“These are life-saving medications that people depend on and need regularly,” Murphy said. “So we will be capping a month’s worth of insulin at $35, EpiPens at $25 and asthma inhalers at $50.”
In addition, the new laws will create a Drug Affordability Council that will analyze the high cost of drugs and suggest ways to lower those prices.
Advocates applauded Murphy’s efforts and said the new laws are a necessary first step toward leveling the playing field between an industry that has all the supply, and more than half of New Jersey consumers concerned about being able to afford prescription medications.
