The bill, known as SB 265, passed the Senate on May 19 and the Assembly on May 25, after facing opposition from lobbyists and nonprofit patient groups that disagree with the bill's approach to reining in prescription drug spending.
As it stands, the bill aims to bring transparency to the way diabetes drugs are priced, including mandating that drugmakers notify state officials and insurance companies 90 days before raising the price of insulin. The bill also could make nonprofits disclose when they get funding from drug companies, as well as what they receive from middlemen including pharmacy benefit managers, and health insurers. It would also register pharmaceutical sales representatives and have them supply certain details about the conversations they have with healthcare providers.
But on Friday, Nevada Governor Brian Sandoval vetoed the bill, saying that before he supports a bill like this "there must be compelling evidence that the benefits are worth the risks," The Nevada Independent reported.