Today marks the beginning of '
National Asthma and Allergy Awareness Month
' and Teva Pharmaceutical is kicking off the occasion with a
near 50-percent price hike on an inhaler solution that prevents asthma attacks
.
May is peak season for those suffering from asthma and allergies, meaning that many Americans will encounter worsened symptoms in the weeks ahead. Unfortunately, this year some may find that the asthma solution they rely on has significantly increased in price - and this increase came just in time for a spike in the use of the medication.
Advance knowledge of Teva Pharmaceutical's plan to hike the price of its inhaler solution came
thanks to the implementation of SB 17
, California's first-of-its-kind drug price transparency legislation which took effect January 1 of this year.
The notification of Teva's price increase came as an early result of the law,
which requires drug companies to give payers 60
days notice of significant price increases.
A recent article from Politico has more on SB 17-spurred early notifications of impending drug price hikes, read the full article here.
For more on SB 17 implementation, check out RunawayRx's
infographic
and for information on states throughout the nation that are joining California in pursuing drug price transparency legislation visit RunawayRx's new
interactive map.
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