TV Ads for Drugs Must Now Include Prices. It ’s the Latest Effort to Drive Down Pharmaceutical Costs

At a time when nearly a fifth of Americans have struggled to pay medical bills, the Trump Administration will soon require drug companies to list medication prices in television advertisements. It’s a move meant to boost transparency and drive down ballooning drug costs. The rule, which is set to go into effect this summer, will require commercials to mention the list price of any prescription drug that is covered by Medicare or Medicaid, if it costs at least $35 for a month’s supply or the usual course of treatment. That will affect many ads viewers see on television, since, according to the Department of Health and Human Services (HHS), the 10 most commonly advertised drugs currently have list prices ranging from $488 to $16,938, though many patients with insurance do not pay that full amount. It is intended to drive down drug pricing by giving consumers more information about the costs of medications they may require, making them “better able to make informed decisions and demand value from pharmaceutical companies,” Centers for Medicare and Medicaid Services Administrator Seema Verma said in a statement. “Patients have a right to know, and if you’re ashamed of your drug prices, change your drug prices,” HHS Secretary Alex Azar told reporters Wednesday while discussing the new policy. Without an HHS-specific enforcement mechanism in the rule, Azar said it will largely hinge on drug companies suing competitors who violate the polic...
Source: TIME: Health - Category: Consumer Health News Authors: Tags: Uncategorized Drugs onetime Source Type: news