Prescription Drug Affordability Board vetoed again by Youngkin
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RICHMOND, Va. (WRIC) -- Gov. Glenn Youngkin (R) vetoed several bills on Monday, including one that would have created a Prescription Drug Affordability Board.
The purpose of House Bill 1724, per its text, was to "protect the citizens of the Commonwealth and other stakeholders within the healthcare system from the high costs of prescription drug products."
The bill would have created a five-member board that would meet in open session at least four times annually. Its members would have been able to review the costs of prescription drugs and, if any were found to be too high, the board could have capped them.
On Monday, March 24, Youngkin vetoed this legislation -- but this is not the board's first time being vetoed.
While the veto statement for this bill is not available as of the time of reporting, in his 2024 veto statement, Youngkin said the bill would "hinder innovation."
“Though noble in its intent, the proposal carries numerous unintended consequences -- while it is imperative to lower drug prices, it must not compromise patient welfare," he said.
This is a developing story, stay with 8News for more updates.
