The Legislature’s Health Coverage, Insurance and Financial Services Committee has voted against a bill to impose fines on generic drug manufacturers engaged in price gouging, due to concerns about protracted litigation.
Democrats on the Health Coverage, Insurance and Financial Services Committee were divided over the “excessive pricing” bill, despite assurances from Maine’s attorney general that his office would defend it in court.
The pharmaceutical industry has successfully challenged similar laws that passed in other states.
The bill, submitted by Senate President Troy Jackson and a similar price-gouging bill both were voted down along party lines. Both will be voted on by the full Legislature.