On October 15, 2018, the Centers for Medicare & Medicaid Services (CMS) and the Pharmaceutical Research and Manufacturers of America (PhRMA) released two very different approaches to the idea of providing drug pricing information to consumers.
- CMS posted the prepublication version of a new regulation that would mandate that DTC television ads include product pricing.
- Just a few hours earlier, PhRMA announced an update to its Guiding Principles, adding a new principle that branded DTC television ads should point to product pricing. CMS acknowledged this action from PhRMA, but responded that it wasn’t enough.
In this POV, we discuss the short- and long-term impacts of these two approaches on pharmaceutical marketers and offer recommendations on how marketers of prescription products should proceed in light of these developments.
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