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Johnson & Johnson to Become the First U.S. Drugmaker to List Drug Prices in TV Commercials

posted by mrpg on Saturday February 09 2019, @07:01AM   Printer-friendly
from the good dept.

takyon writes:

Ahead of potential regulation, Johnson & Johnson will include the list and potential out-of-pocket prices of the drugs it sells in television commercials, beginning with Xarelto (rivaroxaban):

Johnson & Johnson said on Thursday it will start adding the price of its medicines to television commercials by next month, becoming the first drugmaker to heed a call by U.S. President Donald Trump for price transparency of drugs advertised directly to consumers on TV.

The healthcare conglomerate said it will include both the list price of a product - the price before any rebates or discounts to insurers or pharmacy benefit managers - as well as potential out-of-pocket costs that patients will pay.

The move, announced in a statement on J&J's website, won swift praise from U.S. Health and Human Services Secretary Alex Azar. Last May, Azar's office released a blueprint for reducing the cost of drug prices, which included a proposal to require disclosure of list prices in TV ads for drugs.

[...] Republican Senator Chuck Grassley, chairman of the Senate Finance Committee, and Democratic Senator Ron Wyden, ranking member of the committee, on Monday invited executives from seven pharmaceutical companies, including J&J, to testify at a Feb. 26 hearing on rising drug prices.

Also at MarketWatch.

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  • (Score: 0) by Anonymous Coward on Sunday February 10 2019, @05:28AM

    by Anonymous Coward on Sunday February 10 2019, @05:28AM (#799025)

    This means bupkis. The price gets bumped around, usually down, by volume and then insurance will pay their part. Also, a number of doctors I work with often give patients Xarelto samples which may cover them long enough just to get them off the drug - in which case, they're paying nothing. Some drug manufacturers offer rebates, too. Nice PR by J&J, tho.