Trump administration plans to require drug companies to include prices in ads
The Hill
October 15, 2018
https://thehill.com/policy/healthcare/411505-trump-administration-to-require-drug-companies-include-prices-in-ads
Drug companies would be required to include list prices in advertisements under a Trump administration proposal released Monday. The proposed rule, announced by Health and Human Services Secretary Alex Azar Monday, is the next step in the administration’s efforts to bring down drug prices. "Patients deserve to know what a given drug will cost when they're being told about the benefits and risks it may have," Azar said during a speech Monday in Washington, D.C. "And they deserve to know when a drug company has pushed its prices to abusive levels, and they deserve to know this every time they see a drug advertised to them on TV."
The pharmaceutical industry opposes the proposal, arguing it would confuse consumers because a drug’s list price is often lower than what the patient will actually pay. PhRMA, the deep-pocketed trade group representing pharmaceutical companies in the U.S., tried getting ahead of Azar’s announcement, telling reporters Monday morning that its members would begin directing patients to more information about drug costs in television ads.
Every ad mentioning a prescription drug by name will include a voiceover or text telling patients to go to a company-sponsored website where they can find information about the list price, as well as a range of potential out-of-pocket costs and potential patient assistance. “We want patients to have more cost information and support using direct-to-consumer advertising,” said PhRMA President Steven Ubl, but “just including list prices is not sufficient and would be misleading.” Azar noted PhRMA's plan in his speech Monday afternoon, but said it doesn't go far enough.
"It is no coincidence that the industry announced a new initiative today that will help make price and cost information more accessible," Azar said. "We appreciate their effort. The placing information on a website is not the same as putting it in an ad."
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Color me shocked. Drumph did something useful.
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