Posted on Tuesday, October 16, 2018 6:46 PM
This week, CMS has proposed to require prescription drug manufacturers to disclose the Wholesale Acquisition Cost (WAC) in their television advertisements as part of their ongoing attempt to empower patients and lower drug prices.
“President Trump and Secretary Azar are working tirelessly to bring down prescription drug prices, and today CMS is continuing to execute on the President’s blueprint,” said CMS Administrator Seema Verma. “We are committed to price transparency across-the-board, and prescription drugs are no different. Patients often pay their cost-sharing or deductible off a drug’s list price. Today’s proposed rule would ensure that those list prices are included in television advertisements, so patients have the information they need to make informed decisions.” “This historic proposal is an important way to create new incentives for drug companies to start lowering their list prices, rather than raising them,” said HHS Secretary Alex Azar.
According to the proposal, the price posted for an acute illness antibiotic would be for a typical course of treatment, for a chronic condition medication, the price would be disclosed for a 30-day supply. An exception would be made for drugs with list prices less than $35 per month.
The proposed rule specifically targets television advertisements but CMS is seeking comment on whether the regulation should apply to advertisements in other media forms such as radio, magazines, newspapers, websites, and social networking sites.
Click here for the full press release.
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