publication date: May. 11, 2018

Trump administration vows to address drug pricing

By Matthew Bin Han Ong

The White House May 11 proposed a series of policy initiatives to reduce the prices of prescription drugs.

“I’ve instructed [HHS] Secretary [Alex] Azar to begin moving forward on reforms that will bring soaring drug prices back down to earth,” President Donald Trump said in a speech Friday. His blueprint to lower drug prices is posted here.

In a joint statement earlier that day, Azar, FDA Commissioner Scott Gottlieb, and the Centers for Medicare and Medicard Services Administrator Seema Verma said “HHS has been formulating the most ambitious reform of drug pricing in the history of our country.”

“Our blueprint for reform, which will be unveiled this week, will use four major strategies to address the problems we face,” Azar, Gottlieb, and Verma wrote.

“First, HHS aims to increase competition in drug markets.

“Second, we are going to give Medicare Part D plans better tools to negotiate discounts on behalf of our seniors – tools that private-sector health plans often already use.

“Third, we will develop new incentives for drug manufacturers to lower list prices.

“Fourth, we develop options to lower patients’ out-of-pocket spending.

“This burden has become a threat to the financial security of far too many of our seniors, neighbors and communities. For someone in desperate need of a cure, there is little difference between one that has not been discovered and one that cannot be afforded.

“Americans should be able to reap the rewards of living in the country that has brought the world more new drugs than any other. President Trump recognizes that the … Continue reading Trump administration vows to address drug pricing

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