Rhode Island H7950 regulates price increases for prescription drugs by imposing penalties on unsupported price hikes.

Rhode Island H7950 amends the Rhode Island Health Care Reform Act of 2004 to regulate price increases for prescription drugs. The bill imposes a penalty on manufacturers for any unsupported price increase of a prescription drug. The penalty is calculated as 80% of the difference between the revenue generated by sales of the prescription drug and the revenue that would have been generated if the manufacturer had maintained the wholesale acquisition cost from the previous calendar year, adjusted for inflation.

Rhode Island H7950 regulates price increases for prescription drugs by imposing penalties on unsupported price hikes.

Rhode Island H7950 amends the Rhode Island Health Care Reform Act of 2004 to regulate price increases for prescription drugs. The bill imposes a penalty on manufacturers for any unsupported price increase of a prescription drug. The penalty is calculated as 80% of the difference between the revenue generated by sales of the prescription drug and the revenue that would have been generated if the manufacturer had maintained the wholesale acquisition cost from the previous calendar year, adjusted for inflation.