Rep. Golden introduces bill to stop drug companies rising prescription costs

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WASHINGTON, D.C. (WABI) - Congressman Jared Golden is introducing a bill designed to stop drug companies that try to unfairly raise drug prices.

The bill would punish pharmaceutical companies that raise the price on a drug more than 10 percent within one year.

"It would then go on into the second year and say if they go up with their prices by more than 18 percent and so on into the third to prevent them from increasing prices unfairly on consumers."

Drug companies would also be required to report price hikes to the Department of Health and Human Services.