Tony Evers signs bill aimed at lowering prescription drug prices in Wisconsin

MADISON - Gov. Tony Evers on Friday signed a bill that aims to lower prescription drug prices in Wisconsin. 

The new law adds transparency requirements for pharmacy benefit managers, who manage prescription drug benefits for health plans and negotiate prices for prescription drugs.

The bill, introduced by Sen. Mary Felzkowski, R-Irma, and Rep. Michael Schraa, R-Oshkosh, requires the managers to give the state more information on what they pay for the drugs and whether their savings are reflected in costs paid for by customers.

The new law also bars pharmacy benefit managers from preventing customers from receiving information about cheaper alternatives to their prescriptions.

"The prescription drug supply chain can be a confusing and opaque system that often sends folks jumping through hoops just to access their life-saving medications. That's just wrong. Period,” Evers said in a statement released after signing the bill in Wausau.  “PBMs play a critical role in the drug supply chain and determining out-of-pocket costs for patients, but frankly, they don't have a lot of oversight or accountability."

The plan was included in Evers' first budget proposal but removed by Republican lawmakers during the budget-writing process. 

Felzkowski in a statement said the new law "will go a long way in helping these pharmacies stay in business and continue to serve our communities and our constituents. It will also put necessary parameters in place that ultimately best serve the patient.”

A number of states have passed similar legislation to collect information on drug prices. Most require the companies to disclose proprietary information on prices. That information, however, is kept confidential. The states instead disclose aggregate information.

Contact Molly Beck at molly.beck@jrn.com. Follow her on Twitter at @MollyBeck.