Opinion: Why Pharmaceutical Market Reform Is So Hard and What to Do About It

The pharmaceutical market has become complex and dysfunctional.In the absence of federal action on the costs of prescription drugs, state legislatures continue to debate and enact policies that help policymakers understand the market problems. More recently, states have begun to take action to manage the costs of drug products through creation of prescription drug affordability boards. Two of these boards — in Maryland and Colorado — are specifically considering statewide rate setting for certain high-cost products. Statewide rate setting can address most of the market dysfunction, improve patient access and manufacturer market access, and complement Federal drug cost policies when enacted.