WASHINGTON (News4Utah) – The Trump administration says it will soon require drug companies to disclose its prices in television commercials.
But will the move do anything to help lower the price you pay at the pharmacy?
You see the commercials on TV every day, but the Trump administration says drug ads don’t include an important piece of information: the price of the prescription.
“You as a patient have a right to know what they’re charging for that medicine when they’re advertising that product to you,” said Health and Human Services Secretary Alex Azar.
He wants to require drug makers to show the price of the drugs on the screen during the commercial…big enough that we can read it.
“The regulation provides how big it has to be, it has to be legible, it can’t just be buried in fine print., ” said Azar.
Azar says HHS Department will gather feedback from the public, and drug companies, for the next 60 days. Then it plans to establish the exact rules for how drug companies must explain their prices.
America’s drug industry is already pushing back.
The Pharmaceutical Research and Manufacturers of America said in a statement:
“List prices are not a good indicator of what a patient will pay at the pharmacy counter …”
The industry may also be ready to fight the rule in court. It says the proposal may violate the First Amendment. Azar says he’s not worried.
“I don’t know how you justify the practice of advertising a product and denying people access to the what the price of the product is,” said Azar.