(Corrects day of the week to Wednesday)
May 8 (Reuters) - U.S. Centers for Medicare & Medicaid Services on Wednesday said it will require drugmakers to disclose the list price for their prescription drugs in direct-to-consumer television advertisements, part of the Trump administration’s efforts to lower costs for U.S. consumers.
The list price should be included if it is equal to or greater than $35 for a month’s supply or the usual course of therapy. CMS said that the 10 most commonly advertised drugs have list prices ranging from $488 to $16,938 per month or usual course of therapy.
“Patients have the right to know the prices of healthcare services, and CMS is serious about empowering patients with this information across-the-board,” CMS Administrator Seema Verma said in a statement.
The rule, which was finalized on Wednesday, was originally suggested as part of President Donald Trump’s “blueprint” to lower U.S. drug prices last May.
Drug companies have argued against the proposed rule, saying list prices do not reflect the final amount paid by patients as it excludes rebates and discounts drugmakers may offer.
The Pharmaceutical Research and Manufacturers of America (PhRMA), the industry’s top U.S. lobbying group, said in October that including the list price in commercials could discourage patients from seeking needed medical care. (Reporting by Ankur Banerjee in Bengaluru and Michael Erman in New York; Editing by Sriraj Kalluvila and Andrea Ricci)