First published May 20th 2018
As the cost of prescription drugs continues to rise, U.S. Senator Dick Durbin wrote to top pharmaceutical companies urging them to clearly put the price of their drugs in their advertisements to consumers. The Senator pointed out that the pharma companies are also dramatically increasing prices. He said that patients are also facing critical shortages of the medicine they need.
“One way to promote price transparency is to require drug companies to tell us their prices. Last year, I introduced the Drug-price Transparency in Communications Act, which would require price disclosure in prescription drug advertising. The President says he supports this policy, so let’s get it done,” he said.
According to a report by Drug Watch, the pharmaceutical industry spends more than $6 billion on marketing and advertising drugs to consumers and more than $20 billion in aggressive marketing to prescribers.