Trump administration hopes listing drug prices on TV ad will lower cost - (CNBC via NewsPoints Desk)

  • 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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