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Drug makers OK with price inclusion in TV ads if done fairly

Stock MarketsJan 02, 2019 11:34AM ET
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© Reuters. Drug makers OK with price inclusion in TV ads if done fairly
  • Four members of Big Pharma, Pfizer (PFE -1.6%), Sanofi (PA:SASY) (SNY -1.6%), Eli Lilly (LLY -1.5%) and Johnson & Johnson (JNJ -0.9%), responding to the federal government's proposed inclusion of prices in TV drug ads generally support the value of increased transparency for patients, but caution that it needs to be done fairly.
  • They say that including just the list price will confuse patients since most are only responsible for co-payments. Some may not fill prescriptions if they perceive that they will have to pay the full monty (shockingly high in many cases).
  • J&J says that if list price disclosures are required for drugs, then hospitals, health insurers and pharmacy benefit managers should play by similar rules.
  • Sanofi was the least supportive, regarding CMS's proposal as "oversimplified" since would fail to grasp the "nuance and complexity" of prescription drugs and biologics.
  • The trade association, Pharmaceutical Research and Manufacturers of America (PhRMA), has proposed its own voluntary guidelines that will take effect in April. It prefers to link drug price information to ads and wants to partner with advocacy groups on an online patient affordability platform that will allow them to access information on insurance coverage, co-payments and other factors in addition to drug prices.
  • The 60-day comment period ended last month. CMS will now decide on the specific regulation. Legal challenges are a near certainty if prices are required in advertisements.
  • Selected tickers: BIB, GRX, THW, BME, BIS, IXJ, ARKG, GNRX, CHNA, XLV, XBI, VHT, IYH, RYH, IBB, XHE, PJP, OTCQX:RHHBY, ABBV, AGN, AZN, BMY, MRK, NVS, BHC, TEVA, AMGN, BIIB, GILD, VRTX, ESRX, WBA, CVS, UNH, CELG, LLY, CI
  • Now read: Eli Lilly Looks To Newly Acquired Assets For Pain Market


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Drug makers OK with price inclusion in TV ads if done fairly
 

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Comments (1)
Timothy Maher
Timothy Maher Nov 29, 2021 8:30AM ET
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Big Pharma cares only about profit. They couldn't care less about people.Is that evil? You decide.
 
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