A bill forcing diabetes drug makers to shed light on their insulin pricing, profits and costs passed the Nevada Senate. The bill would also force insulin drug makers like Sanofi (SNY) , Novo (NVO) and Eli Lilly (LLY) to pre announce when they will raise prices.
The Nevada Senate passed the legislation with a 19-2 vote Friday, but the bill still needs to be signed into law by Governor Brian Sandoval (R).
Industry lobbying group PhRMA came out in opposition to the bill. "We are continuing to educate lawmakers and Nevadans about the dangers of this legislation and the fact that it will not do anything to help Nevada patients access or afford their medicines," a group spokesperson said in a statement.
Jim Cramer and Real Money columnists discuss the latest from President Donald Trump and the GOP efforts to repeal and replace the Affordable Care Act. See which stocks they are discussing and get his insights or analysis with a free trial subscription to Real Money.