Three Ways President Trump Can Make Good On His Promise To Bring Down Drug Prices

A few months ago in Louisville, Kentucky, in one of his many attacks on drug prices, President Donald Trump stated: “The cost of medicine in this country is outrageous. Many times higher than in some countries in Europe and elsewhere. Why? Same pill, same manufacturer, identical, and it’s many times higher in the United States. You know why? Campaign contributions, who knows. But somebody is getting very rich. We’re going to bring it down. We’re going to have a great competitive bidding process. Medicine prices will be coming way down, way, way, way down, and that’s going to happen fast.” So far it has been all talk. The only evidence that the Trump administration intends to take any action with regard to prescription drugs is a leaked draft of an Executive Order that does not address the Louisville promise but does support a host of proposals promoted by the big pharma lobby that would increase pharmaceutical industry profits. The public has a right to expect that Trump, as the self-proclaimed master of the “art of the deal,” will use that business prowess and the federal government’s leverage as the world’s largest purchaser of prescription drugs to stop the pharmaceutical industry from “getting away with murder” on drug prices. Indeed, there are well known protections that any experienced purchaser such as Trump would demand from a supplier to assure a fair price and freedom from excessive price increases and price gouging. They include: The Largest...
Source: Health Affairs Blog - Category: Health Management Authors: Tags: Costs and Spending Drugs and Medical Innovation Medicaid and CHIP Medicare competitive pricing prescription drug prices price gouging Source Type: blogs