Governor Murphy, Senator Singleton, Senator Vitale, Senator Pou and Assemblyman McKeon Announce Support for Bill Package to Make Prescription Drugs More Affordable
February 14, 2022 | nj.gov
Governor Phil Murphy, Senator Troy Singleton, Senator Vitale, Senator Pou, and Assemblyman John McKeon today announced their support for a legislative package to make prescription drugs more affordable. Together, the four bills will advance prescription drug affordability and price transparency by capping out-of-pocket costs for insulin, asthma inhalers, and EpiPens; allowing the State to join a multi-state purchasing pool to negotiate for more competitive Medicaid drug prices; establishing oversight mechanisms of Pharmacy Benefit Managers (PBM) while prohibiting certain business and pricing practices; and setting up comprehensive transparency efforts for pharmaceutical manufacturers, PBMs, wholesale drug distributors, and insurance carriers. Critical transparency measures will shed light on cost drivers, trends and other factors related to high prescription drug prices across the prescription drug supply chain and support competitive action across the market. This comprehensive legislative package reaffirms Governor Murphy’s commitment to making high-quality health care more affordable and more accessible to all New Jerseyans.