Regulating advertisements for prescription drug and biological product prices

(a) In general Not later than one year after the date of the enactment of this Act, the Secretary of Health and Human Services, acting through the Administrator of the Centers for Medicare & Medicaid Services (referred to in this section as the Administrator), shall promulgate regulations requiring each direct-to-consumer advertisement on television (including broadcast, cable, streaming, and satellite television) for a prescription drug or biological product for which payment is available under title XVIII or XIX of the Social Security Act to include a textual statement, which shall be truthful and not misleading, indicating the list price, as determined on the first day of the quarter during which the advertisement is being aired or otherwise broadcast, for a typical 30-day regimen or typical course of treatment (whichever is most appropriate). (b) Determinations In promulgating regulations under subsection (a), the Administrator shall determine— (1) whether such regulations should apply with respect to additional forms of advertising; (2) the manner and format of textual statements described in such subsection; (3) appropriate enforcement mechanisms; and (4) whether such textual statements should include any other price information, as appropriate.