Lawmakers in Hawaii, Maine and Washington recently introduced bills that would penalize drug manufacturers for price increases unsupported by clinical evidence and direct money from fines to consumer financial assistance. Inspired in part by an annual report by the Institute for Clinical and Economic Review that identifies unjustifiably high-cost drugs, the legislation would let states use that report to assess whether price hikes are justified. States would fine companies when prices aren’t justified, and the fines would be calculated on...