WASHINGTON, July 25 ― US President Donald Trump yesterday signed four executive orders aimed at lowering the prices Americans pay for prescription drugs, as he faces an uphill re-election battle and criticism over his handling of the coronavirus pandemic. Trump has previously proposed most of the...
Trump has previously proposed most of the changes made by the executive orders he signed yesterday, but this is the first time they have made it into signed executive orders. — Reuters pic
One order would allow for the legal importation of cheaper prescription drugs from countries like Canada, while another would require discounts from drug companies now captured by middlemen to be passed on to patients, Trump said. “We will see what those discussions indicate but the agency is prepared to move forward,” said Medicare chief Seema Verma.
“We believe they are likely geared more towards deriving campaign talking points rather than producing tangible, material effects,” Brian Abrahams, a biotech analyst at RBC Capital Markets, said in a note. Many of the administration's past efforts to cut drug prices, including its plan to force insurers and other healthcare payers to pass rebates on to patients, have stalled amid industry pushback.
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