'More is possible': A bunch of states are taking on high drug prices, and it could start hitting drugmaker profits

Lydia RamseyJun 5, 2017, 01:08 IST

U.S, Sen. Bernie Sanders (I-Vt.) expresses his support for Proposition 61 downtown Los Angeles, Monday, Nov. 7, 2016. The ballot initiative drawing the most spending on the November ballot would not affect the average Californian, but drug companies have a major stake and are spending heavily to defeat it. Proposition 61 would prohibit state agencies from paying more for prescription drugs than the U.S. Dept. of Veterans Affairs does in an effort to curb rising costs for taxpayers.AP

A number of states have proposed bills that take on the rising cost of drug pricing. And, unlike in the past, many are on track to becoming law.

The legislation at the state level, along with local, and national government actions, are latest attempts to change the way we spend money on prescription drugs.

It's gotten to the point where Wall Street is starting to take notice.

"These laws are now at the 'annoyance' level, rather than material commercial impact but presumably once a coalition gels at state level and reaps political rewards, more is possible," Bernstein analyst Ronny Gal wrote.

Here are the states that have either passed bills, or are in the process of passing legislation that could increase transparency around drug prices.

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'More is possible': A bunch of states are taking on high drug prices, and it could start hitting drugmaker profits