CHARLESTON, WV (LOOTPRESS) – The cost and accompanying data regarding prescription drugs sold in West Virginia is about to become more transparent, according to State Auditor John B. McCuskey.
In partnership with the American Association of Retired Persons, the State Auditor’s transparency website, wvCheckbook.gov, will be posting information regarding each prescription drug sold in West Virginia, McCuskey said.
This will include costs to produce, current drug prices, why some prices are increasing and a list of those that have increased, drugs that have lost their patent rights, and the costs related to research and development.
“In 2020, the West Virginia Legislature passed Senate Bill 689 which required pharmaceutical drug manufacturers, and companies that issue health benefit plans to submit those health plans and drug pricing information to the State Auditor’s Office to be posted on the state transparency website,” McCuskey said.
“This is increasingly important data for our aging population that relies on these drugs for a variety of healthcare needs. An informed consumer base allows for real-time accountability and fairness in pricing across the prescription drug market, while also providing a window of information to each consumer in West Virginia.”
Gaylene Miller, AARP West Virginia State Director, said “It is important that we bring transparency to the prescription drug pricing process and start to address prescription drug affordability on the federal and
state level. AARP has been a national leader in this effort, and we thank the West Virginia Legislature and Auditor McCuskey for their work to bring greater disclosure and accountability from the pharmaceutical industry. Drug prices keep rising, even for medications that have been on the market for decades. The establishment of this website is an important step to bring transparency to the process and
start to address rising prescription drug costs for West Virginia families who often have to decide between food, medicine and paying their utility bills.”
As one of the co-sponsors of Senate Bill 689, Republican Senator Ryan Weld of Brooke County said, “Generic and name brand prescription drug prices have increased, but when this happens, we don’t know why. Therefore, I helped introduce legislation to answer that question. I’m proud to have partnered with AARP to introduce this bipartisan legislation to keep our citizens informed. Pharmaceutical companies and health benefit plan issuers with a pharmacy component will now be held accountable to our consumers for their pricing practices.”
Information relating to drug pricing and the drugs these companies produce, as well as which companies complied with the statute, can be found on statewide transparency site at: wvcheckbook.gov scroll to bottom of page, and click on pharmaceutical pricing transparency.
Questions about the data and why certain information is shown should be directed to the transparency team at: 304-558-2251. Questions about pricing information, and the reason for the prices shown should be directed to the corresponding drug company, McCuskey concluded.