As the discourse over rising drug prices continues, Johnson & Johnson (J&J) joins the list of pharmaceutical companies that are attempting to address the criticism raised by legislators, insurers, providers and consumers.
The pharma giant will release its “U.S. Pharmaceuticals Transparency Report” next month, in which it will provide information about average increases in list prices for all drugs the company sells in the U.S., along with the average price of the drugs once J&J discounts are taken into consideration, according to The Wall Street Journal.
The report will also contain information about the company’s spending on research and marketing and will substantiate the claim that the majority of J&J’s sales growth is achieved by generating additional sales, not increasing prices.
J&J said the report will include averages across all of its drugs but not information about specific drugs, as that could compromise payer negotiations. It will disclose information about J&J’s payments to physicians and other topics related to drug spending, as well.
Our Take: Bravo.
(Updated with link to report.)