OnDemand WTP Pricing Research

J&J to disclose list prices in TV drug ads | BioPharma Dive

Dive Insight:
The Trump administration’s ambitions around regulating drug pricing came into focus last year, beginning with a policy blueprint unveiled in May 2018 that was soon followed with specific, though preliminary, proposals.

In mid-October, the Department of Health and Human Services unveiled a plan that, if finalized, would require drug companies disclose list prices in direct-to-consumer (DTC) television advertisements.

J&J’s White said the proposal did affect J&J’s decision to include list and out-of-pocket costs in TV commercials.

“We spoke with many consumers and patients to understand what pricing information would be most relevant to them,” he said. “Their input not only shaped how we responded to the administration’s DTC TV advertising proposal, it also suggested a common-sense path forward that we believe will give patients clearer, and more valuable, information about the cost of the medicines we advertise on TV.”

Though his administration has yet to translate plans into policy, Trump has at times been able to bend the industry away from its traditional behavior.

Last summer, for instance, Pfizer made an unusual retreat on drug pricing, reversing dozens of mid-year price hikes after the president publicly rebuked the company. A handful of other big pharmas subsequently chose to pause planned price hikes as well.

Read complete article here:

J&J to disclose list prices in TV drug ads | BioPharma Dive.