Johnson & Johnson will soon list their drug prices on TV

By Zachary Blackwell

Elm Staff Writer

Over the past few years, pharmaceutical companies have steadily increased the cost of many different medcines that people need in order to treat their medical ailments. This has attracted the ire of patients, politicians, and citizens alike.

The rising cost of medication nationwide has become such a contentious issue that the federal government has gotten involved. The Trump Administration has been looking for ways to lower prescription drug prices by encouraging manufacturers to offer discounts. However, there are still big strides that must be made before these drugs become affordable for the average American.

Because dependent patients have had so many problems with rising prices for their medicine, the level of trust the public has for pharmaceutical companies is very low. Customers are fed up with paying large sums of money to keep themselves in good health.

Keeping this in mind, one of the key objectives of drug manufacturers is convincing their customers that they care about their monetary concerns, and that they can be trusted to deliver a reliable product at an affordable price. Having a level of transparency with the consumer is exactly what is on the minds of the marketing team at Johnson & Johnson.

The company will be the first to list their drug prices in TV commercials, according to CNBC. By the end of March, the company will begin to list the price of its blood thinning pills, Xarelto. Commercials for Xarelto will give the pill’s list price, as well as the typical out-of-pocket costs on screen, at the end of the commercial. Johnson & Johnson will also include a website link in online advertisements which will allow users to enter their insurance information and see costs tailored to them.

Depending on the pharmacy, Xarelto costs between $450 and $540 each month without being covered by insurance.

It’s clear that Johnson & Johnson wants to ensure they retain the trust and faith of their customers by being transparent about prices. This is a step in the right direction for both the company and the people who rely on their products to live a happy and healthy life.

With all the scrutiny that these companies have been facing recently from all angles, they have the opportunity to come out and take advantage by being upfront and honest with consumers. This is exactly what Johnson & Johnson will do.

Transparent prices are not only the best moral decision for Johnson & Johnson, but also the best business decision. Once their new advertisements are broadcast, it’s likely that consumers will be more supportive of their products in the future. The current state of the pharmaceutical industry has proven that the public wants these companies to be upfront and responsible. Johnson & Johnson has shown that they are at least somewhat willing to do this.

It will be very interesting to see how other pharmaceutical companies respond to Johnson & Johnson’s actions. It’s probable that if nothing is done on their part soon, they will lose business to Johnson & Johnson, provided that some of the medications each company makes fill a similar purpose. Combined with the recent actions of the federal government to put more pressure on how drug makers sell their products, it appears as though the people who rely on these products will be able to breathe a sigh of relief soon.

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