On the heels of recent moves in the Trump administration to require list prices in direct-to-consumer advertisements for drugs, PhRMA President and CEO Stephen J. Ubl discussed how member companies are planning to move forward.
PhRMA says including list prices in advertisements could potentially repel individuals from getting the care they might need, and has instead advised companies to direct individuals to a website containing pricing details and other important information.
“If you put the list price alone in the ad, it can be misleading for consumers, because it doesn’t reflect what they actually pay at the pharmacy counter,” Ubl says during an interview with MSNBC. “It doesn’t reflect rebates and discounts that our members negotiate with health plans.”
The trade group says it found Americans, in a 3-1 margin, want to know how much the treatment will cost them at the pharmacy counter, and whether any potential financial assistance is available, as opposed to seeing the list price on TV.
“We will also launch a new platform that will provide patients, caregivers and providers with cost and financial assistance information for brand-name medicines, as well as other patient support resources,” PhRMA says.