Johnson & Johnson to disclose drug price increases

Johnson & Johnson plans next month to disclose average price increases of its prescription drugs, as the industry tries to calm the storm over soaring prices.

“We hope that can create a better understanding of the industry and ... ultimately improve patient access to medicines,” Joaquin Duato, head of J&J’s prescription drug business, said Tuesday.

High and rising prices have also infuriated doctors, insurance companies and politicians, and prompted government probes into the industry’s practices.

Last summer, Allergan announced a “social contract” under which the maker of Botox is limiting list price increases to a single annual increase of less than 10 percent while expanding financial aid for patients.

Many drug companies and their industry trade groups have been trying to shift public debate away from high prices to the value medicines provide.

J&J’s move could change that focus.

Besides heading the world’s biggest health care products maker, Duato on Monday became chairman of the Pharmaceutical Research and Manufacturers of America, a lobbying group.

J&J, the maker of immune disorder treatment Remicade and Xarelto for preventing strokes, will also disclose what it spends on patient assistance, marketing versus research, and payments to physician consultants.