Gov. Brian Sandoval on Friday vetoed a bill that would have required drug manufacturers to notify the state in advance of planned price increases for diabetes-related drugs, among other provisions.
Sandoval said that while Senate Bill 265 had well-intentioned provisions related to access to affordable health care, the measure also contained potentially detrimental consequences for Nevadans, “not the least of which is the possibility that access to critical care will become more expensive, more restricted, and less equitable.”
“SB 265 fails to account for market dynamics that are inextricably linked to health care delivery and access to prescription drugs,” Sandoval said. “This failure cannot be overlooked, and it could cause more harm than good for Nevada’s families.”
Sandoval also said there was insufficient evidence to support the notion that the measure would lead to lower drug costs.
Senate Majority Leader Aaron Ford, D-Las Vegas, criticized Sandoval’s veto, saying it “put the interests of major pharmaceutical companies ahead of one million Nevadans who are diabetic or pre-diabetic.”
Insulin is a life-saving drug that too many Nevadans simply can’t afford because of outrageous and inexplicable price hikes, he said.
“Senate Bill 265 had significant bipartisan support because it would have finally lifted the shroud and shined some light on the skyrocketing costs of insulin,” Ford said. “Tonight, one million Nevadans and their families have a reason to be disappointed in their state government.”
The bill was sponsored by Sen. Yvanna Cancela, D-Las Vegas.
It would have required drug makers to annually publish the list prices they set and profits they make on insulin, as well as other information that now for the most part is confidential.