(CBS) – President Trump on Friday introduced his blueprint to “bring soaring drug prices back down to earth.” Mr. Trump said his administration will begin work immediately, although there is no timeline for implementing his proposals.
“Everyone involved in the broken system — the drug makers, insurance companies, distributors, pharmacy benefit managers, and many others — contribute to the problem,” Mr. Trump said. “Government has also been part of the problem because previous leaders turned a blind eye to this incredible abuse. But under this administration, we are putting American patients first. … I’ve instructed Secretary Azar to begin moving forward on reforms that will bring soaring drug prices back down to Earth.”
In sweeping terms, the president announced how he — along with Health and Human Services Secretary Alex Azar — are working to bring down the prices of drugs, by, among other things, ending the “Pharmacist Gag Rule” that Mr. Trump said “punishes” pharmacists for instructing patients how they can save money.
“This is a total rip off, and we are ending it,” Mr. Trump said Friday.
The president also spoke of ending trade practices abroad that lead to unfair prices for Americans.
“Finally, as we demand fairness for American patients at home, we will also demand fairness overseas,” Mr. Trump said. “America will not be cheated any longer, and especially will not be cheated by foreign countries.”
Before taking office last January, Mr. Trump railed against the pharmaceutical industry and accused it of “getting away with murder.” He repeated those words at a Cabinet meeting in October.
“The other thing we’re doing that relates to people’s lives is the prescription drug prices are out of control,” Mr. Trump said in October. “The drug prices have gone through the roof. And if you look at the same exact drug by the same exact company, made in the same exact box and sold someplace else, sometimes it’s a fraction of what we pay in this country — meaning, as usual, the world is taking advantage of the United States. They’re setting prices in other countries and we’re not.”
The populist rhetoric appears to be giving way to a more nuanced strategy focused on making the pharmaceutical market more open and competitive, with the aim of lowering costs for consumers. It’s an approach that could avoid a direct confrontation with the powerful pharmaceutical lobby, but it could also underwhelm Americans seeking relief from escalating prescription costs.
Officials said the plan would increase competition, create incentives for drugmakers to lower initial prices and slash federal rules that make it harder for private insurers to negotiate lower prices. The result would be lower pharmacy costs for patients — a key Trump campaign promise.
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