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Pharmaceutical companies must publish list prices for their products in television commercials under a new proposal released by the Trump administration on Monday.
The new rule that affects English:. Medicare or Medicaid […].
Alex Azar, Secretary for Health and Social Affairs, announced the new proposal just hours after the announcement of the stakeholders of major pharmaceutical companies
The pharmaceutical research and manufacturer of America, or PhRMA, said its 33 member companies are viewers on websites that mention the list prices of the drugs they advertise, and which also mention what consumers can expect to actually pay the medications
"Direct-to-consumer television advertising of PhRMA member companies will soon be added to patients Information on drug costs, inc "The group said in a statement."
Azar said it was no coincidence that the PhRMA included the price of the drug, the cost of delivery or any other connection about the potential cost of the drug and the available financial Support announced Monday's initiative that they knew the Trump government prepared to act, he said.
"We value their efforts, but placing information on a website is not the same as reporting," Azar said in a speech at the National Academy of Medicine
"For too long, drug pricing has been like no other market ", he said. "We will not wait for an industry with so many opposing and perverse incentives to reform itself."
Under the proposed scheme, a company would have to write the price for a typical treatment of drugs such as antibiotics, or the 30-day cost of medicines for chronic conditions such as hypertension or diabetes.
PhRMA has said that any attempt to force companies to publish their prizes would violate the rights of the First Amendment to freedom of expression.
But Azar pointed out sticker prices for cars must be published. "One year worth of the most advertised drugs can cost more than a car," he said.
The move from PhRMa also did not impress Ben Wakana, a spokesperson for affordable medication patients.
"The PhRMA proposal is a ridiculous attempt to avoid full transparency," Wakana told NBC News.
"This is a propaganda campaign to control consumer information and keep prices high."
Other consumer groups were unimpressed by Azar's announcement. Public People called it a "side show".
"Demand for such disclosure would help highlight the price erosion of the pharmaceutical industry, but executives in the industry are ashamed, even with this information consumers and mostly patients have limited or no ability to choose an alternative product "said Peter Maybarduk in a statement.
According to PhRMA's proposal, television advertising would not include the actual list price of a drug, but would direct viewers to websites where prices are discussed. PhRMA CEO Stephen Ubl said, this is because patients also receive an explanation of how much insurance pays and notes on payment assistance plans. "Simply including list prices can be confusing and discourage consumers from seeking medical care," Ubl told reporters.
Wakana, neither the PhRMA proposal nor the federal requirement to publish drug prices, would do anything to reduce those prices. "If pharmaceutical companies are nervous that patients are not taking their medicines when they see the full price, then pharmaceutical companies should lower their prices," he said.
"The 10 most frequently advertised drugs have list prices of $ 535 to $ 11,000 per month or usual course of therapy," HHS said in a statement.
"Many patients either pay list prices or pay the prices based on the list price," he added. And, it was said, "47 percent of Americans have highly depreciable health plans, under which they often pay the list price of a drug until their insurance begins."
This story has been updated with new content.