Pharmaceutical firms give $305K to oppose drug price cap

PIERRE, S.D. (AP) - Two pharmaceutical companies have contributed a combined $305,000 to oppose a potential South Dakota ballot measure that would cap the amount state agencies could pay for prescription drugs.

South Dakotans Against the Deceptive Rx Ballot Issue disclosed raising roughly $314,000 in cash and donated goods and services in a 2017 year-end campaign finance report.

That includes $100,000 from Bristol-Myers Squibb and $205,000 from Novo Nordisk. The ballot question group ended the year with about $270,000 in the bank.

Initiative supporters have submitted signatures to qualify for the 2018 ballot. The measure would prohibit state agencies from paying more than the U.S. Department of Veterans Affairs for prescription drugs.

Industry groups have appealed to the state Supreme Court after a judge rejected their challenge to the attorney general's explanation of the measure.

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