US EditionWhite House Threatens Prescription Drug Makers With Price Controls: ‘We’ll Deploy Every Tool’ To Lower Prices
UNITED STATES, JUL 31 – President Donald Trump signed 17 letters to drug CEOs demanding price reductions and threatening enforcement tools to cut costs by 30% to 80%, White House said.
- On Thursday, President Donald Trump sent 17 letters to pharmaceutical CEOs in Washington DC demanding they lower prescription drug prices or face consequences.
- Trump took this action because Americans pay excessive prices for medications, while the U.S. shoulders most R&D costs and other wealthy countries pay less.
- The letters identified four strategies to lower drug costs, including applying preferred international pricing standards to Medicaid, ensuring those prices for newly introduced medications, repatriating additional foreign earnings, and implementing direct sales to consumers or businesses to cut out intermediaries.
- Trump stated that if there is a failure to take action, he will utilize all available measures to shield U.S. families from ongoing exploitative drug pricing.
- The administration set a September 29 deadline for repricing and plans to monitor progress using trade and commerce authority to ensure cooperation or enforce regulations.
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13 Articles
Trump leveling the global medicine playing field
President Donald Trump says Americans are paying too much for prescription medications, and he is demanding change. He sent 17 letters to pharmaceutical company CEOs Thursday, saying he will only accept a commitment that provides immediate relief from "vastly inflated drug prices."The president wants other rich countries to help shoulder the cost of research and development of brand-name medications that could help lower the price of those drugs…
This Thursday, President Donald Trump sent letters to the directors of major pharmaceutical manufacturers, urging them to reduce the cost of prescription drugs by adopting "Most Favored Nation" (MFN) prices for the United States.Read more]]>
U.S. President Donald Trump has launched an open war on Thursday against the pharmaceutical industry, sending letters to those responsible for 17 major companies, suggesting that they should take steps to reduce the price of prescription drugs in the U.S. to match the lowest price they sell in other developed countries. The Republican gives companies a period of 60 days to guarantee the best possible prices or, if not, to face “all the tools” th…
US President Donald Trump wants pharmaceuticals to be cheaper in the US, which is why he threatens the pharmaceutical companies to use "every tool" of the government.
High drug prices are an unacceptable burden on Americans, Trump writes in a letter to Novo Nordisk.
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