The administration of US President Donald Trump hopes its move to force drugmakers to disclose drug prices in certain television advertisements will share them into lowering prices, CNBC reported Thursday.
"If the drug companies are embarrassed or if they're afraid that patients will be scared off by their drug prices, reduce your prices," commented Health and Human Services Secretary Alex Azar.
Prescription drugs accounted for 12 percent of all healthcare spending in the US in 2016, while the country ranked first globally in per capita drug spending at $1208 per year.
Under the new rules that could go into effect this summer, drugmakers will have to disclose list prices for all drugs costing more than $35 per month in direct-to-consumer television advertisements.
"These ads can provoke important discussions, people can recognize conditions they may have, but the important thing is there's got to be a fair, balanced and informed discussion with the doctor," Azar argued, continuing "without the pricing information, that's not an informed discussion."
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