Congressman Francis Rooney introduced legislation that would codify the recent Department of Health and Human Services finalized rule that would require prescription drug companies to include list prices in television ads.
Congressman Rooney stated, “Prescription drug prices have skyrocketed over the last decade and many Americans can’t afford the medications they need. Last year, pharmaceutical companies spent $3.7 billion marketing prescription drugs and therapies through television advertisements, and many of these advertised medications cost several hundred dollars per month or more.
“Americans deserve to know upfront how much these medications cost. Many drug companies have already started the process of complying with this new rule. If drug companies have something to hide, this will help hold them accountable. By increasing transparency and including these prices in tv ads, we can create a market-based solution to lower prescription drug prices.”
This legislation would codify a rule proposed by the Trump Administration requiring pharmaceutical companies to include the list price of prescription drugs covered by Medicare and Medicaid that cost at least $35 for a 30-day supply or the usual course of therapy in television advertisements. The new rule will take effect on July 9.