New Ad Rules Won't Lower Prescription Drug Costs

Big Pharma is pushing back against a new rule proposed by the Trump administration that would force them to advertise the price of prescriptions.

Drug companies instead want to guide consumers to websites with pricing information

“It is a laughable attempt to avoid full transparency, drug companies are trying to control information and keep drug prices high,” says Ben Wakana, executive director of Patients for Affordable Drugs.

In fact, Wakana says advertising the price still won't help consumers. He says it starts with allowing Medicare to negotiate lower prices.

“You heard the president talk about this on the campaign trail, he said 'we don't negotiate and we're getting ripped off,' and he was right about that,” he says.  “Number two, stop drug companies from abusing patent laws and extending their monopolies.”

“They change the color of the pill, or the casing that goes around the pill, and they get another six, ten, twelve years of exclusivity and they block lower priced generics from coming to the market, we need to stop that.”

Wakana also says there needs to be more transparency of the middle-man, and who is actually profiting from the sale of prescription drugs.

He says taxpayers are already paying for the research and development of most drugs, then forced to pay an arm and a leg to buy them.

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