Drug-price Transparency for Consumers Act of 2023

The Drug-price Transparency for Consumers Act of 2023 would require pharmaceutical companies to include the standard list price (wholesale acquisition cost) for a 30-day supply in direct-to-consumer advertisements for drugs covered by Medicare or Medicaid. It exempts low-cost drugs priced under $35 for a 30-day supply and mandates that the price be displayed clearly in ads. Manufacturers failing to comply could face civil penalties of up to $100,000 per violation, with regulations to be established within one year of enactment. The bill aims to provide consumers with upfront price information to help them compare costs before discussing treatment options with healthcare providers.