White House requires Big Pharma to list drug prices on TV ads

Feb 2011
18,209
12,921
The formerly great golden state
#1
White House requires Big Pharma to list drug prices on TV ads as soon as this summer
Pharmaceutical companies will be required to disclose the price of their prescription medicines in television commercials, the Trump administration announced Wednesday.
The requirement is set to take effect as soon as this summer and will apply to drugs that cost more than $35 for a month's supply, the administration said. Until now, drug companies were required to disclose the major side effects a drug can have in TV ads but not the price.
It's about time!
 

Djinn

Council Hall
Dec 2007
51,675
38,486
Pennsylvania, USA
#2
Credit where credit is due. If Trump and congressional Republicans follow through on this, I'll be genuinely impressed - and I'm not being sarcastic.

Drug manufacturers are pushing back, claiming that the prices they set are "fuzzy," given that the actual price to consumers may be lower, depending on their insurance. Whatever. But all prescription drug advertisements (television and in print) should include:

1) The phrase "Priced at or below $_____ per dosage"*
2) The date at which the price applied (to avoid confusion with customers referencing old advertisements)
3) A URL (ideally a centralized one for all pharma manufacturers) where the pharmaceuticals could describe all the additional pricing details they want


* This could be tricky, given that many drugs are prescribed at different dosage levels / frequencies, etc. I'm okay with giving pharmas the freedom to use the lowest number, based on accepted FDA dosage.
 
Feb 2011
18,209
12,921
The formerly great golden state
#3
Credit where credit is due. If Trump and congressional Republicans follow through on this, I'll be genuinely impressed - and I'm not being sarcastic.

Drug manufacturers are pushing back, claiming that the prices they set are "fuzzy," given that the actual price to consumers may be lower, depending on their insurance. Whatever. But all prescription drug advertisements (television and in print) should include:

1) The phrase "Priced at or below $_____ per dosage"*
2) The date at which the price applied (to avoid confusion with customers referencing old advertisements)
3) A URL (ideally a centralized one for all pharma manufacturers) where the pharmaceuticals could describe all the additional pricing details they want


* This could be tricky, given that many drugs are prescribed at different dosage levels / frequencies, etc. I'm okay with giving pharmas the freedom to use the lowest number, based on accepted FDA dosage.

I'm sure they will try to weasel out of giving actual figures. "Your copay could be as little as,....." depending on what insurance you have instead of "This stuff costs $2,345 a month. Maybe your insurance will pay, but you'll pay them one way or another."
Maybe "It's only $120 per gram," not mentioning that one pill is three grams.

They'll figure out some way to soften the blow.
 
Likes: Friday13

Djinn

Council Hall
Dec 2007
51,675
38,486
Pennsylvania, USA
#5
I'm sure they will try to weasel out of giving actual figures. "Your copay could be as little as,....." depending on what insurance you have instead of "This stuff costs $2,345 a month. Maybe your insurance will pay, but you'll pay them one way or another."
Maybe "It's only $120 per gram," not mentioning that one pill is three grams.

They'll figure out some way to soften the blow.
Yeah... IMO, they need to share their lowest price WITHOUT factoring for insurance.
 

Djinn

Council Hall
Dec 2007
51,675
38,486
Pennsylvania, USA
#7
Conspicuous by there their absence: any republicans....
In all fairness, I'm having trouble finding articles that suggest support (or lack of support) by those in Congress; regardless of party. I would hope that the majority of those in Congress favor this approach - and ensure that loopholes that would permit misleading price tags are closed.
 
Likes: johnflesh
Mar 2015
29,784
15,280
Mad Prophet
#8
In all fairness, I'm having trouble finding articles that suggest support (or lack of support) by those in Congress; regardless of party. I would hope that the majority of those in Congress favor this approach - and ensure that loopholes that would permit misleading price tags are closed.
They're conflicted by disdain for affordable healthcare and love of der F├╝hrer.
 
Likes: Friday13