The Trump administration has finalized a regulation that will require drug companies to disclose prices of medications during television advertisements so consumers will know how much they can expect to pay for those products, Health and Human Services Secretary Alex Azar said Wednesday.
"This is a great day for American patients," Azar told Fox News' "America's Newsroom." ". . . It's time for the pharma companies to start leveling with the American people what their drugs cost."
He added before the new rule, companies were running advertisements telling consumers to speak with their doctors about different prescription medications, without knowing first if that drug "cost $50 or $5,000."
"You will have to shell out hundreds of bucks to see a doctor, ask the doctor about the drug, and you don't know. But now you know because President [Donald] Trump is requiring they level with the American people."
The move was made because the administration believes transparency in healthcare is important, Azar said.
"You have a fundamental right as a patient to be in control and being in control means when you go see a doctor, when you go into the pharmacy, you ought to know what something costs before you go in, and before you are handed a surprise bill," he added.
Azar said the administration believes the move will cause drug companies to lower their prices because they will see an impact on their sales if people know their prices are too high.
In addition, people will be more informed when they are discussing prescriptions with their doctors, he said, and that will allow doctors to advise patients of more affordable options for their care.
Sandy Fitzgerald ✉
Sandy Fitzgerald has more than three decades in journalism and serves as a general assignment writer for Newsmax covering news, media, and politics.
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