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AARP Backs Bill Requiring Price Disclosure in Prescription Drug Ads

Senior Asian woman having a virtual appointment with doctor online, consulting her prescription and choice of medication on laptop at home. Telemedicine, elderly and healthcare concept
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En español | Television commercials touting the benefits of prescription drugs to treat conditions ranging from diabetes to cancer would also need to include information about how much those medications cost, under proposed federal legislation endorsed by AARP this week.

The bipartisan Drug-Price Transparency for Consumers (DTC) Act of 2023 would require drugmakers to include the monthly list price of prescription drugs in direct-to-consumer advertisements, in the same way drug companies must now disclose information about risks and side effects. The rule would apply to drugs paid for by Medicare and Medicaid that cost more than $35.

Introduced in the U.S. House last week and the U.S. Senate in April, the legislation “is another step to hold big drug companies accountable and empower patients to make informed decisions when faced with ubiquitous drug advertisements,” wrote Bill Sweeney, AARP senior vice president for government affairs, in an Oct. 18 letter to the House bill’s sponsors.

He added that greater transparency around the cost of prescription drugs could spark competition among brands, which could help consumers and taxpayers by lowering drug prices.

Bringing down the cost of life-saving prescription drugs for older Americans has long been a top priority for AARP. We were instrumental in the passage of last year’s historic prescription drug law, which is already lowering prices for millions of Medicare enrollees.

And we continue to fight for laws that would increase accountability in the prescription drug supply chain and crack down on regulatory loopholes that can drive up drug prices.

Read our endorsement letter and learn more about how we’re fighting to lower prescription drug costs.

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