Trump's drug-pricing transparency plan advances

Federal officials and lawmakers are advancing President Donald Trump's proposal to improve drug-pricing transparency, according to a Bloomberg report.

The Office of Management and Budget received a proposed regulation from HHS on the issue Aug. 21. Additionally, the Senate, as part of a spending bill, passed legislation Aug. 23 to fund a requirement that drugmakers disclose drug list prices in advertising, reports The Hill.

President Trump unveiled his plan to improve drug-pricing transparency and combat rising drug prices in May.

"While we cannot comment on pending regulations, the president's 'American Patients First' blueprint to lower prescription drug prices and reduce out-of-pocket costs clearly states that HHS is looking at options to require drug-pricing transparency," HHS spokesperson Caitlin Oakley told Bloomberg. "It should not come as a surprise that this would require rulemaking."

According to Bloomberg, the Pharmaceutical Research and Manufacturers of America trade association has come out against the proposal, saying disclosing list prices in ads won't tell consumers the true amount they will spend at the pharmacy and could face legal issues, "including First Amendment concerns."

 

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