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J&J, Bristol-Myers battle California drug discount proposal

Pharmaceutical companies are pouring millions of dollars into an effort to head off a state ballot initiative that would rein in spending on medicine.

By Caroline Chen and Robert Langreth | Updated on October 08, 2015

(Bloomberg) — California is becoming the new battleground for drug pricing, with pharmaceutical companies pouring millions of dollars into an effort to head off a state ballot initiative that would rein in spending on medicine.

The California Drug Price Relief Act would require government health programs to only contract with drugmakers at prices that are the same as or lower than those paid by the U.S. Department of Veterans Affairs, which typically gets deep discounts on medications from drug manufacturers.

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