May 8, 2019

Drug prices will now be required in TV ads

Drugmakers oppose listing prices on TV. Photo: Philippe Huguen/AFP via Getty Images

The Trump administration finalized a rule Wednesday that will require pharmaceutical companies to post the list prices of their drugs in TV commercials.

Why it matters: The drug industry may sue to block the rule, and many people are skeptical that publishing prices in ads would help patients or successfully shame drugmakers into lowering their prices. But the rule is another sign of bipartisan pressure against the industry and a step toward more transparency.

Details: The requirement would only apply to drugs that have list prices — the amount that excludes rebates and discounts — of at least $35 per month.

  • Drugmakers would also have to include this line in their TV ads: "If you have health insurance that covers drugs, your cost may be different."
  • Xarelto, made by Johnson & Johnson, was the first drug to disclose pricing information voluntarily back in March.

What we're watching: Whether PhRMA, other drug companies and broadcasters file a lawsuit against the rule on First Amendment grounds.

Go deeper: The Wall Street Journal published a point-counterpoint about whether disclosing drug prices was a valuable policy.

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Louisiana governor says state will run out of ventilators on April 9

Louisiana Gov. John Bel Edwards said on CNN's "State of the Union" Sunday that modeling projects his state will run out of ventilators for coronavirus patients on April 9 and hospital beds on April 11.

Why it matters: New York is the only state in the country with a worse per-capita death rate than Louisiana, where around 12,500 people have been infected and 409 have been killed.

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 9 a.m. ET: 1,216,422 — Total deaths: 65,711 — Total recoveries: 252,478Map.
  2. U.S.: Total confirmed cases as of 9 a.m. ET: 312,245 — Total deaths: 8,503 — Total recoveries: 15,021Map.
  3. Public health latest: CDC launches national trackers and recommends face coverings in public. Federal government will cover costs of COVID-19 treatment for uninsured. The virus is hitting poor, minority communities harder and upending childbirth.
  4. 2020 latest: "We have no contingency plan," Trump said on the 2020 Republican National Convention. "We're having the convention at the end of August."
  5. Business updates: Restaurants step up for health care workers. Employees are pressuring companies to provide protections during coronavirus.
  6. Oil latest: Monday meeting among oil-producing countries to discuss supply curbs is reportedly being delayed amid tensions between Saudi Arabia and Russia.
  7. Education update: Many college-age students won't get coronavirus relief checks.
  8. What should I do? Pets, moving and personal health. Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  9. Other resources: CDC on how to avoid the virus, what to do if you get it.

Subscribe to Mike Allen's Axios AM to follow our coronavirus coverage each morning from your inbox.

Trump sees "sooner rather than later" return of pro sports

Photo: Sarah Silbiger/Getty Images

President Trump predicted yesterday that the Republican National Convention will open as scheduled in Charlotte on Aug. 24 — "We have no contingency plan" — setting a new bar for a phased return to business in America.

The big picture: With the virus peak for New York projected as Thursday, and for the nation as April 15 (a week from Wednesday), Trump continued trying to leaven dire warnings with a sunny streak.

Go deeperArrow53 mins ago - Sports