Posted by Michael Wonder on 10 May 2019
Trump administration wants to shame big pharma into lowering drug prices
9 May 2019 - An industry group argues people won't seek necessary medical care if they see list prices.
The Trump administration wants to shame pharmaceutical companies into lowering prescription drug prices, Health and Human Services Secretary Alex Azar told CNBC in an interview Thursday.
Pharmaceutical companies will be required to disclose the list price of their prescription medicines in television commercials under a new Trump administration policy. The Pharmaceutical Research and Manufacturers of America, an industry group, argues list prices could be confusing and may discourage people from seeking medical care.
"If the drug companies are embarrassed or if they're afraid that patients will be scared off by their drug prices, reduce your prices. It's that simple," Azar said in an interview with CNBC's "Squawk Box."
