The Five Companies Responsible For More Than Half Of Drug Ads On TV Would Bear Brunt Of Trump’s Proposal
Stat takes a look at what those five drugmakers are spending on ads right now and how they might be impacted by the Trump administration's proposal to require prices to be included. Meanwhile, some families who have struggled with high drug costs are frustrated that the plan might not actually lower prices.
Five Drug Makers Will Be Hit Hardest By Trump’s New Proposal On Drug Ads
President Trump wants to force drug companies to disclose their prices in TV ads — and that’s going to hit five companies much harder than any others: Pfizer, AbbVie, Eli Lilly, Amgen, and Allergan. Just a few dozen drug companies run any TV ads at all, and those five companies alone were responsible for more than half of the drug ads customers saw on TV in the last 12 months, according to a STAT analysis of data provided by analytics company iSpot.tv. Pfizer, for example, ran 37 unique ads in the last 12 months — racking up an advertising bill of over $600 million, according to iSpot’s estimate. (Florko, 10/17)
J&J Says Putting Drug Prices In Ads May Scare Away Patients
Johnson & Johnson, the world’s most valuable health-care company, says U.S. patients may avoid buying their medications if they see the prices in television ads. A proposal from the Trump administration forcing drugmakers to disclose the list price of any medication that costs more than $35 could discourage some from seeking treatment, executives from Johnson & Johnson said on an earnings conference call Tuesday. (Hopkins, 10/16)
Trump Officials Ratchet Up Drug Pricing Fight
The Trump administration is ratcheting up its fight with the drug industry, with a new proposal that would force drugmakers to disclose their prices in television advertising. For months, officials have beat the drum over high drug prices but offered only minor tweaks to address the issue. With the latest proposal, which the industry is vowing to defeat, both sides are heading for a fierce clash. (Weixel, 10/17)
Families Say Disclosing Drug Prices In TV Ads Not Enough
Five-year-old Elijah needs a drug with a big price tag: nearly $300,000 per year. Living with a life-threatening condition, Elijah was just three when he landed in the hospital after his family couldn't – and their insurance company wouldn't – cover the cost of a key drug, reports CBS News correspondent Chip Reid. "He was screaming 'Mommy why am I here?' Mommy, please take me home," his mother, Juliana Keeping, recalled. "People are cutting their pills in half, they are going without food, they are being hospitalized, and they are even dying because they can't afford prescription drugs. That happened to us and it's happening all over the country." (10/16)
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