The drugmaker will launch the policy later this fiscal quarter. The first drug ad to include a list price will be blood thinner Xarelto, the company’s most frequently prescribed medicine. Xarelto costs $450 to $540 per month without insurance.
Drug ads will include both the list price and the potential patient out-of-pocket cost, according to the report.
The decision by J&J comes after the Trump administration proposed requiring drugmakers to disclose prices in direct-to-consumer advertising.
HHS Secretary Alex Azar praised the move, saying “We commend Johnson & Johnson for recognizing the value of informing consumers about list prices and for doing so voluntarily. We call on other manufacturers to follow their lead,” according to The Hill.
The Pharmaceutical Research and Manufacturers of America opposes the Trump administration’s proposal, arguing list prices are misleading because they don’t give patients enough information to make informed decisions. Instead, the trade group enacted a proposal requiring its members to direct viewers to a website where they can learn about list price and pricing discounts.
In January, Eli Lilly agreed to include a website and toll-free number consumers could access in its advertisements.
More articles on pharmacy:
Senate committee invites 7 pharma leaders to testify at drug price hearing
4 big pharma CEOs agree to testify at February drug-pricing hearing
Walgreens pays nearly $2M to settle claims with MassHealth
