Background As the Internet is a source of information for many health consumers, there is a need to evaluate the information about prescription drugs provided on pharmaceutical manufacturers' web sites. Objectives Using a sample of pharmaceutical manufacturers' web sites for the treatment of menopause, the main objective of this study was to evaluate consumer‐oriented information about benefits and risks of prescription drugs for the treatment of menopause provided on pharmaceutical web sites. Methods Pharmaceutical manufacturers' web sites for analysis were identified using a list of U.S. FDA‐approved hormone therapies for the treatment of menopause. Results This study revealed substantial gaps in how benefits and risk information were presented on the web sites. Specifically, information about the benefits was prominent while risk information was incomplete and challenging to find. Further, references to the scientific literature to support claims advertised about prescription drug benefits were not provided. Conclusions Given the lack of scientific evidence to support claims of benefits and limited disclosure about risks, more information is needed for consumers to be able to weigh the benefits and risks of these treatments for menopause. Overall, these findings provide guidance for evaluating drug information provided on pharmaceutical web sites.