State rep introduces bill to regulate pharmaceutical industry

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MADISON, Wis. - Rep. Deb Kolste, D-Janesville, introduced a pharmaceutical reform bill Thursday focusing largely on illuminating the process pharmaceutical companies undergo to set prices.

According to a press release from Kolste’s office, the bill would require manufacturers to notify the state of Wisconsin prior to any price increase of 25 percent or greater. The manufacturer would also be required to provide written justification for the hike.

“Excessive and unwarranted price increases from prescription drug companies are commonplace. They are generally designed to increase bottom lines and will continue to occur until elected officials decide to act,” Kolste said in the release.