In September, US President Donald Trump issued an executive order to lower prescription drug prices, noting that “Americans pay more per capita for prescription drugs than residents of any other developed country in the world.
US President Donald Trump announced to enforce two “groundbreaking” rules to lower drug prices, that, according to him, will “save American seniors millions of dollars” in the cost of prescription drugs.
The first rule, Trump said, will require drug discounts be passed on directly to patients, instead of using what he termed “middlemen”. The second rule will price prescription drugs for Medicare based on the lowest price paid by other countries.
We take the lowest price and we match whatever the lowest price is, leading to colossal savings for all Americans,” Trump said, talking about what he described as the “most-favored nation rule”.
Delivering the remarks, POTUS also said that Unapproved Drug Initiative (UDI), which required manufacturers to remove drugs that were not approved by the US Food and Drug Administration (FDA) from the market, will be cancelled.
According to a Vizient study, UDI, initially designed to remove potentially unsafe medications from the market, in fact resulted in manufacturers who obtained approval from FDA instituting drastic drug price increases.
After unveiling the two rules on drug prices, Trump mention the election and again declared himself as the winner, complaining that his campaign had media, big tech and particularly big pharma “against us”, and contradicting projections by US mainstream media awarding Democrat Joe Biden the election win.
The greedy Big Pharma ran millions of dollars of negative advertisements against Trump during the campaign, but could not avoid him winning almost 74 million votes. We
Trump had big pharma against him, the media against his voters, including the big tech monsters and a lot of dishonest people ruling against the livelihood and wealth of most citizens living in the USA.
Reacting to Trump’s announcement, Stephen J. Ubl, CEO of PhRMA, slammed the President’s initiative as “onslaught on medical progress”.
However, earlier in July, Trump signed four executive orders to lower drug costs for customers, relaxing drug importation rules and cutting Medicare payments for drug makers.
On 13 September, an executive order on lowering drug prices “putting America first” was issued, saying that “it is unacceptable that Americans pay more for the exact same drugs, often made in the exact same places”.
Other countries’ governments regulate drug prices by negotiating with drug manufacturers to secure bargain prices, leaving Americans to make up the difference, effectively subsidizing innovation and lower-cost drugs for the rest of the world.
Americans should not bear extra burdens to compensate for the shortfalls that result from the nationalized public healthcare systems of wealthy countries abroad.
Sputnik / ABC Flash Point Pharma News 2020.