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Nathan Houdek: “Legislation for additional regulatory guardrails and…”

Featuring: Nathan Houdek, Wisconsin Commissioner of Insurance

April 30, 2024 - Prescription drug costs: No magic pill

Published July 1, 2025 | Video Starts at 51:03

Obviously, we had the, the first kind of set of PBM licensure and disclosure requirements that were put in place in, I believe, 2021. Since then, there's been legislation that would have put Legislation for additional regulatory guardrails and requirements has been advanced but not passed into law. yet. But I anticipate we'll continue to see more action in that space. So that has been one place where we've seen bipartisan agreement. (51:03–51:16)

CLAIM

Asserts that additional legislation for regulatory guardrails has been advanced but not yet enacted.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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Nathan Houdek

“Florida became the first state approved to import drugs from Canada by the FDA.”
April 30, 2024 - Prescription drug costs: No magic pill | Uploaded July 1, 2025 | 23:22-23:31
“Eight or nine states have passed laws and are in process of applying to the FDA for approval to implement [prescription drug importation]…”
April 30, 2024 - Prescription drug costs: No magic pill | Uploaded July 1, 2025 | 47:42-47:53
“Governor Evers created the Task Force on Reducing Prescription Drug Prices in 2019.”
April 30, 2024 - Prescription drug costs: No magic pill | Uploaded July 1, 2025 | 22:07-22:14
“The task force held meetings from November 2019 to August 2020.”
April 30, 2024 - Prescription drug costs: No magic pill | Uploaded July 1, 2025 | 22:14-22:40
“Governor Evers included recommendations from the task force in his last two biennial budget bills.”
April 30, 2024 - Prescription drug costs: No magic pill | Uploaded July 1, 2025 | 22:54-23:09
“Florida being the first one we've seen [applying to the FDA for prescription drug importation program approval].”
April 30, 2024 - Prescription drug costs: No magic pill | Uploaded July 1, 2025 | 23:22-23:31
“More states are adopting prescription drug affordability review boards.”
April 30, 2024 - Prescription drug costs: No magic pill | Uploaded July 1, 2025 | 23:30-23:38
“Eight or nine states have adopted prescription drug affordability review boards.”
April 30, 2024 - Prescription drug costs: No magic pill | Uploaded July 1, 2025 | 23:30-23:38
“The Biden administration is allowing Medicare to negotiate some drug prices.”
April 30, 2024 - Prescription drug costs: No magic pill | Uploaded July 1, 2025 | 25:10-25:19
“Issues around patent abuse, consolidation, and lack of competition need federal government action.”
April 30, 2024 - Prescription drug costs: No magic pill | Uploaded July 1, 2025 | 25:28-25:41
“The drug pricing and drug supply chain system is complex and opaque.”
April 30, 2024 - Prescription drug costs: No magic pill | Uploaded July 1, 2025 | 31:44-31:59
“There's a lack of information, there's a lack of transparency [in the drug pricing and supply chain system].”
April 30, 2024 - Prescription drug costs: No magic pill | Uploaded July 1, 2025 | 31:44-31:59
“As public policymakers and regulators, it's difficult to understand where to focus on the supply chain.”
April 30, 2024 - Prescription drug costs: No magic pill | Uploaded July 1, 2025 | 32:02-32:12
“Having more transparency, more disclosure, more reporting [in the drug pricing and supply chain system] is a critical first step.”
April 30, 2024 - Prescription drug costs: No magic pill | Uploaded July 1, 2025 | 32:23-32:42
“The Group Insurance Board has opted against covering obesity drugs for state employees.”
April 30, 2024 - Prescription drug costs: No magic pill | Uploaded July 1, 2025 | 39:56-40:10
“To date, we haven't had sufficient data information provided to the Board that would essentially show us that there is cost savings that…”
April 30, 2024 - Prescription drug costs: No magic pill | Uploaded July 1, 2025 | 40:09-40:29
“The decision [not to cover obesity drugs] comes down to the statutory limitation that the Board has in terms of adding new covered benefits…”
April 30, 2024 - Prescription drug costs: No magic pill | Uploaded July 1, 2025 | 40:33-40:33
“Statutorily we're obligated to follow, you know, what our requirements are in terms of adding new benefits.”
April 30, 2024 - Prescription drug costs: No magic pill | Uploaded July 1, 2025 | 41:15-41:23
“Connecticut just passed a law that has them join a bulk prescription drug purchasing program run out of the state of Oregon and Washington.”
April 30, 2024 - Prescription drug costs: No magic pill | Uploaded July 1, 2025 | 47:55-48:11
“Governor Evers has a similar proposal around a bulk purchasing program here in the state.”
April 30, 2024 - Prescription drug costs: No magic pill | Uploaded July 1, 2025 | 48:12-48:20
“Industry players benefit from the current system and spend a lot of money on lobbying.”
April 30, 2024 - Prescription drug costs: No magic pill | Uploaded July 1, 2025 | 49:48-49:58
“Lobbying disclosures are all public information.”
April 30, 2024 - Prescription drug costs: No magic pill | Uploaded July 1, 2025 | 49:57-50:01
“Some reforms around PBM business practices have gotten bipartisan support in Wisconsin.”
April 30, 2024 - Prescription drug costs: No magic pill | Uploaded July 1, 2025 | 50:37-50:52
“The first set of PBM licensure and disclosure requirements were put in place in 2021.”
April 30, 2024 - Prescription drug costs: No magic pill | Uploaded July 1, 2025 | 50:52-51:03
“Meaningful patent reform is a federal issue.”
April 30, 2024 - Prescription drug costs: No magic pill | Uploaded July 1, 2025 | 1:00:05-1:00:27
“Allow drugs to become generic and have biosimilars come to the market faster would have a big impact.”
April 30, 2024 - Prescription drug costs: No magic pill | Uploaded July 1, 2025 | 1:00:05-1:00:27
“Manufacturers can't play games with the patenting system.”
April 30, 2024 - Prescription drug costs: No magic pill | Uploaded July 1, 2025 | 1:00:14-1:00:18