PhRMA Updates TV Ad Guidelines Ahead of Mandatory DTC Price Disclosure

PhRMA released new guidelines on price transparency in advertising in an effort to preempt tough mandatory regulations released Monday that would require ads to include featured drugs list prices.

PhRMA unveiled new direct-to-consumer advertising recommendations following Monday’s release by the Centers for Medicare & Medicaid Services of a proposed rule that would require disclosure of drug list prices in promotional materials and DTC advertisements for all drugs covered by Medicare or Medicaid.

The voluntary PhRMA measures, set to take effect next April, update advertising principles the trade group adopted in 2006. The expanded guidelines call for all DTC television advertising that identifies a specific drug by name to include information about where patients can find cost information, including list prices, average prices or typical out-of-pocket costs.