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White House requires Big Pharma to list drug prices on TV ads as soon as this summer
Pharmaceutical companies will be required to disclose the price of its prescription medicines in television commercials, the Trump administration says.
The requirement is set to take effect as soon as this summer and will apply to drugs that cost more than $35 for a month's supply.
Pharmaceutical companies will be required to disclose the price of their prescription medicines in television commercials, the Trump administration announced Wednesday.
The requirement is set to take effect as soon as this summer and will apply to drugs that cost more than $35 for a month's supply, the administration said. Until now, drug companies were required to disclose the major side effects a drug can have in TV ads but not the price.
"Requiring the inclusion of drugs' list prices in TV ads is the single most significant step any administration has taken toward a simple commitment: American patients deserve to know the prices of the healthcare they receive," Health and Human Services Secretary Alex Azar said in a statement.
Health and Human Services Secretary Alex Azar listens as U.S. President Donald Trump delivers a speech about lowering prescription drug prices from the Rose Garden at the White House in Washington, U.S., May 11, 2018.
Jonathan Ernst | Reuters
Health and Human Services Secretary Alex Azar listens as U.S. President Donald Trump delivers a speech about lowering prescription drug prices from the Rose Garden at the White House in Washington, U.S., May 11, 2018.
Pharmaceutical companies will be required to disclose the price of their prescription medicines in television commercials, the Trump administration announced Wednesday.
The requirement is set to take effect as soon as this summer and will apply to drugs that cost more than $35 for a month's supply, the administration said. Until now, drug companies were required to disclose the major side effects a drug can have in TV ads but not the price.
"Requiring the inclusion of drugs' list prices in TV ads is the single most significant step any administration has taken toward a simple commitment: American patients deserve to know the prices of the healthcare they receive," Health and Human Services Secretary Alex Azar said in a statement.
Drug makers forced to reveal prices on television ads
3 Hours Ago | 01:49
In February, Johnson & Johnson became the first drugmaker to announce it will reveal the prices of its prescription medicines, including the list price of a product and potential out-of-pocket costs that patients will pay.
High drug costs have become a rare bipartisan issue with lawmakers on both sides of the aisle demanding something be done. President Donald Trump has made lowering prices one of the key issues of his administration. Democrats are jockeying to prove they can lead reform.
Drugmakers have been resistant to advertising list prices, saying it's simply the price that's advertised, and not what consumers actually pay.
Pharma executives have instead thrown their support behind a Trump administration proposal that would give consumers an estimated $29 billion in rebates now paid to pharmacy benefit managers. Drug manufacturers pay PBMs the rebates for getting their drugs covered by Medicare's Part D prescription plan.
In a conference call with reporters Wednesday, Azar said pharmaceutical companies need to be transparent with consumers about drug prices. He applauded J&J's early efforts to disclose the prices.
https://www.cnbc.com/2019/05/08/trump-administration-requires-drug-makers-to-list-prices-in-tv-ads.html
(this may be a duplicate or previously put in-not sure)
Moody's CEO/Pres sells $10.7m in shares
Recent filing
Moody's $864m penalty for ratings in run-up to 2008 financial crisis
The credit rating agency Moody’s has agreed to pay nearly $864m to settle with US federal and state authorities over its ratings of risky mortgage securities in the run-up to the 2008 financial crisis, the department of justice said on Friday.
Moody’s reached the deal with the justice department, 21 states and the District of Columbia, resolving allegations that the firm contributed to the worst financial crisis since the Great Depression, the department said in a statement.
“Moody’s failed to adhere to its own credit-rating standards and fell short on its pledge of transparency in the run-up to the ‘great recession’,” principal deputy associate attorney general Bill Baer said in the statement.
S&P Global’s Standard & Poor’s entered into a similar accord in 2015 paying out $1.375bn. Standard and Poor’s is the world’s largest ratings firm, followed by Moody’s.
Moody’s said it would pay a $437.5m penalty to the justice department, and the remaining $426.3m would be split among the states and Washington DC.
As part of its settlement, Moody’s also agreed to measures designed to ensure the integrity of credit ratings going forward, including keeping analytic employees out of commercial-related discussions.
The rating agency’s chief executive also must certify compliance with the measures for at least five years.
https://www.theguardian.com/business/2017/jan/14/moodys-864m-penalty-for-ratings-in-run-up-to-2008-financial-crisis
cap sauce
https://www.secform4.com/insider-trading/1059556.htm
Estee Lauder Family Trust sells shares worth $465,378,624
Grand-daughter of Estee Lauder
Aerin Rebecca Zinterhofer
Also Known As: Aerin Lauder
At least $3 billion | 49 years old | United States
Primary Position: Director, Estee Lauder Companies
Grandmother, Estee Lauder, started Estee Lauder Cosmetics in 1946, with four products. She initially sold skin products developed by her uncle, a chemist, in local beauty salons and hotels. Estee developed some of the most successful fragrances including, Youth Dew, Aramis and Beautiful. Aramis, Clinique, Prescriptives, Lab Series Skincare for Men and Origins were also launched under her watch. The firm was later known as Estee Lauder Companies. Aerin Zinterhofer: Granddaughter of Estee joined the family business in 1992 as a Member .
https://www.wealthx.com/dossier/aerin-lauder-zinterhofer/
https://www.secform4.com/insider-trading/1001250.htm