October 16, 2018 / 11:37 AM / in a month

J&J applauds U.S. proposal on drug prices in TV ads

FILE PHOTO: Johnson & Johnson products stand on a shelf in a store in New York U.S., July 16, 2018. REUTERS/Lucas Jackson/File Photo

(Reuters) - Johnson & Johnson applauded a U.S. government proposal requiring drugmakers to include price of medicines in television ads, Chief Financial Officer Joseph Wolk said in a CNBC interview on Tuesday.

The company’s comment comes a day after U.S. government had sought such a move as part of its effort to increase pressure on drugmakers to lower costs.

(This story has been refilled to correct to “applauds” from “agrees” in headline, paragraph 1)

Reporting by Ankur Banerjee in Bengaluru; Editing by Arun Koyyur

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