Senate passes measure to require disclosure of drug prices in TV ads

The Senate on Thursday passed a measure to provide funding to require drug advertisements to disclose the price of the drug. The passage came as part of the massive health care spending bill that the Senate passed on Thursday, which included the amendment from Sens. Chuck Grassley (R-IA) and Dick Durbin (D-IL). "More information gives transparency to the transaction, and will help give American consumers a break and start to slow down the skyrocketing cost of prescription drugs," Durbin said in a statement. The Senate's health spending bill still needs to be reconciled with the House's before it goes to the president's desk. The pharmaceutical industry opposes requiring prices to be disclosed in TV ads. The Pharmaceutical Research and Manufacturers of America warned the move would "confuse patients" and could violate the First Amendment. The Trump administration supports the idea, and has proposed it as part of President Trump's plan to lower drug prices.

Read More