Senators to propose ban on drug ads to consumers, WSJ reports

Senators Bernie Sanders and Angus King plan to introduce a bill to ban pharmaceutical companies from direct-to-consumer advertising, The Wall Street Journal’s Megan Graham reports. Under the proposed bill, promotional communications targeting consumers would be prohibited, including through TV, radio, print, digital platforms, and social media, and would apply to all prescription drug ads. “The American people don’t want to see misleading and deceptive prescription drug ads on television,” Sanders says. “They want us to take on the greed of the pharmaceutical industry and ban these bogus ads.” Publicly traded companies in the space include AstraZeneca (AZN), Bristol Myers (BMY), Eli Lilly (LLY), GSK (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY).