You’re probably familiar with the TV ads for prescription drugs that rattle off a comically long list of potential side effects. According to a recent CNBC article, these ads will now list the sticker price for the drugs they’re advertising. The Trump administration announced the news last Wednesday as part of the ongoing effort to lower prescription drug prices. Johnson & Johnson became the first pharmaceutical company to announce it will reveal product prices and possible out-of-pocket costs patients will have to pay.
“Requiring the inclusion of drugs’ list prices in TV ads is the single most significant step any administration has taken toward a simple commitment: American patients deserve to know the prices of the healthcare they receive,” said Health and Human Services Secretary Alex Azar in a statement. The new requirement will go into effect as soon as this summer, and applies to drugs that cost more than $35 a month.