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Relating to prescription drug price disclosure; authorizing a fee; providing an administrative penalty.
Estimated Twoyear Net Impact to General Revenue Related Funds for HB1033, As Engrossed : an impact of $0 through the biennium ending August 31, 2023.
The bill would make no appropriation but could provide the legal basis for an appropriation of funds to implement the provisions of the bill.
HB 1033 makes minor language changes to current statute regarding disclosure of drug prices.
However the main thrust of the bill is the administration of a fee, the amount of which is at the Department of State Health Services' discretion, that pharmaceutical drug manufacturers must pay with each annual drug price disclosure report. The bill also authorizes the department to penalize pharmaceutical drug manufacturers if they fail to furnish the aforementioned reports and fees.
Texas Action opposes HB 1033 because it violates the limited government principle. Current statute already mandates that pharmaceutical drug manufacturers provide yearly reports to the Health and Human Services Commission regarding drug prices. While the penalties this bill authorizes the government to impose could improve transparency if pharmaceutical drug manufacturers refuse to disclose drug prices, the imposition of fees on the annual disclosure reports themselves is a needless growth of government which does not incentivize pharmaceutical drug manufacturers to disclose their drug prices.