Legislation would combat pharmaceutical price gouging - WKOW 27: Madison, WI Breaking News, Weather and Sports

Legislation would combat pharmaceutical price gouging

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MADISON (WKOW) -- New legislation hopes to prevent prescription drug companies from increasing their costs.

The bill would encourage Wisconsin Attorney General Brad Schimel to block pharmaceutical corporations from price-gouging.

Current law does not require the AG to do this but he can file petitions on drug companies to justify their rate increases. The bill hopes to hold pharmaceutical companies companies more accountable to reduce their ability to jack up prices for medicine.

"This is something concrete that we can do right now," said Robert Kraig, Executive Director of Citizen Action of Wisconsin. "Prescription drugs and because of all the issues it's an extremely high issue with the public."

The U.S. Government Accountability Office shows in 2016 that 1:5 generic drugs had an extraordinary price increase of at least 100%.


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