DCBS to host public meeting on prescription drug prices Dec. 4

Nov. 21, 2024

Salem - The Oregon Department of Consumer and Business Services (DCBS) will be hosting a public hearing on prescription drug prices on Wednesday, Dec. 4, at 10 a.m. both in person and via Zoom.

The hearing will feature panel presentations on "Who really pays for drug advertising and is what you see what you get?" and "Why are rebates necessary and how do they help or harm the consumer? How do they affect what drugs are available?" Panels will be moderated by Oregon legislators Sen. Deb Patterson, Rep. Christine Goodwin, Rep. Emerson Levy, and Rep. Rob Nosse and feature presenters from academia, patient advocates, and industry representatives. You can learn more about the agenda on our website.

The public is invited to participate and comment on how drug prices have impacted them. You can attend the hearing via Zoom or in person at the Labor and Industries Building, second floor conference room (Room 260), located at 350 Winter St. NE, Salem, OR 97301. We encourage you to testify at the hearing or provide written testimony. For more information about the hearing, email [email protected].

DCBS is also asking for the public's help before the public hearing to share your stories on prescription drug prices. The department has set up a brief survey for consumers to share their stories about rising prescription drug prices. Drug prices play a major role in health care decisions of Oregonians, and the cost of prescription drugs have steadily increased. The department wants to hear your stories about the costs of prescription drugs and how it has affected you and your family. The previous testimonials are available on our website.

Insurance Commissioner Andrew Stolfi will facilitate the hearing, and staff will discuss highlights and recommendations from the 2024 Drug Price Transparency Report to the Oregon Legislature.

The Prescription Drug Price Transparency Act (ORS 646A.689) directed the Oregon Department of Consumer and Business Services to establish a transparency program to accept reports and disclose certain information from prescription drug manufacturers, health insurance carriers, and consumers on drug prices.

The goal of the program is to provide accountability for prescription drug pricing through the notice and disclosure of specific drug costs and price information from pharmaceutical manufacturers, health insurers, and consumers.

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About Oregon DFR: The Division of Financial Regulation is part of the Department of Consumer and Business Services, Oregon's largest business regulatory and consumer protection agency. Visit dfr.oregon.gov and www.dcbs.oregon.gov.