Trump signs orders to lower prescription drug prices

[rooster59]

Trump signs orders to lower prescription drug prices

By Jeff Mason, Alexandra Alper and Carl O'Donnell

 

U.S. President Donald Trump boards Air Force One as he departs Washington on weekend travel to the Trump National Golf Club in Bedminster, New Jersey from Joint Base Andrews, Maryland, U.S., July 24, 2020. REUTERS/Tom Brenner

 

WASHINGTON (Reuters) - U.S. President Donald Trump on Friday 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 changes made by the executive orders he signed on Friday, but this is the first time they have made it into signed executive orders.

 

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.

 

Another measure seeks to lower insulin costs while a fourth, which may not be implemented if talks with drug companies are successful, would require Medicare to purchase drugs at the same price that other countries pay, Trump said.

 

Executives of top drug companies have requested a meeting to discuss how they can lower drug prices, the president said.

 

"We will see what those discussions indicate but the agency is prepared to move forward," said Medicare chief Seema Verma.

 

The orders received swift pushback from the pharmaceutical industry. The move was "a reckless distraction that impedes our ability to respond to the current pandemic – and those we could face in the future," Pharmaceutical Research and Manufacturers of America said in a statement.

 

Wall Street analysts were skeptical that the orders would have much effect on drugmakers and said they could prove difficult to implement in practice.

 

"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.

 

Shares of several drugmakers ticked up as Trump outlined the plan, recovering some of the day's losses.

 

Trump repeatedly has called for lowering the cost of prescription drugs but Congress has not yet passed a major drug price reform.

 

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.

 

"Reviving a rebate reform proposal now does not address the underlying flaws – that it will drastically increase Medicare premiums for America’s seniors and most vulnerable," the Pharmaceutical Care Management Association, whose members negotiate rebates for healthcare payers with drugmakers, said in a statement.

 

Paying the rebates directly to seniors in the form of discounts could cut their drug costs by as much as $30 billion, or as much as 30%, U.S. Health and Human Services Secretary Alex Azar said in a Friday press call.

 

Trump is under fire for surging coronavirus cases in the United States and beset by decreasing poll numbers ahead of Nov. 3 elections. On Friday, he also said that the White House would propose a healthcare bill soon but offered few details.

 

Drugmakers often negotiate rebates or discounts on their list prices in exchange for favorable treatment from insurers. As a result, insurers and covered patients rarely pay the full list price of a drug.

 

(Reporting by Jeff Mason; Writing by Alexandra Alper; Editing by Jonathan Oatis, Peter Henderson and Tom Brown)

 

-- © Copyright Reuters 2020-07-25

 

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[Kelsall]

Thank you, duly-elected President and Commander-in-chief Donald J. Trump!

Edited July 25, 2020 by Kelsall

[teacherclaire]

Does that include Haloperidol? He seems to use quite a lot of it. 

[pegman]

Desperate times it seems. Little chance these remain in effect after the election no matter who wins. Big pharma owns too many politicians in both parties. That includes you Sen. Booker. As for Canadian drugs we need those for our own citizens. We do have a surplus of hi-octane pot if the Yanks are interested.

Edited July 25, 2020 by pegman

[Bluespunk]

1 hour ago, rooster59 said:

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.

You’re not wrong Brian, you’re not wrong. 

[metisdead]

A post using an intentional miss spelling of Trump's name has been removed. 

[stevenl]

A comprehensive reforms of the whole health care industry is required. Trying to put a bandage on doesn't really help if the whole limp is falling of.

[OneMoreFarang]

2 hours ago, rooster59 said:

"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.

If Trumps would really want to lower the cost for the people and let big pharma make less profit that would probably be the first time that Trump works for the people and not for the influential industry. How likely is that?

Above explanation makes a lot of sense.

[Eric Loh]

Is this the healthcare scheme to replace Obamacare that he promised in Chris Wallace interview. Lol. 
https://trofire.com/2020/07/21/trump-promises-to-sign-imaginary-healthcare-bill-in-2-weeks/

[Puchaiyank]

Case in point:  Popular blood thinner cost on open US drug market...more than $500 for a 30 day supply. 

 

The Veteran Administration can distribute the same name brand drug for $9.00.

 

Drug companies have been price gouging American citizens for decades.  Any help is appreciated!

[galenflagler]

2 hours ago, Kelsall said:

Thank you, duly-elected President and Commander-in-chief Donald J. Trump!

This is the verbal equivalent of groveling.

Edited July 25, 2020 by galenflagler

[galenflagler]

2 hours ago, teacherclaire said:

Does that include Haloperidol? He seems to use quite a lot of it. 

Actually, I think it would be more accurate to say that he needs quite a lot of it. No evidence from his behavior that he is actually on it.

[riclag]

1 hour ago, stevenl said:

A comprehensive reforms of the whole health care industry is required. Trying to put a bandage on doesn't really help if the whole limp is falling of.

Hey, If you were American you could petition your congress person to included donations toward helping fund  whole health care on the 1040 income tax forms!

[Srikcir]

5 hours ago, Kelsall said:

Thank you, duly-elected President and Commander-in-chief Donald J. Trump!

Executive orders do not have any automatic legal force and can be challenged in court. https://www.bbc.com/news/world-us-canada-53534950

And this order merely updates earlier Trump administration ideas over the last four years that have not yet gone into effect in the form of any legislation. No thanks to the Republican majority Senate that won't take action to pass such legislation even though it passed a bill out of a bipartisan Senate committee.

The Democrat majority House did pass a Medicare bill to cap drug costs for older people but the White House called it "unworkable."

https://Chicago tribune.com/nation-world/ct-nw-prescription-drug-costs-20200724-4fi6sioi7jh3dfctctwk3nz4cm-story.html

This Order is just a pre-election political game and will quickly  disappear like magic.

 

Edited July 25, 2020 by Srikcir
correct auto correct

[SunsetT]

5 hours ago, teacherclaire said:

Does that include Haloperidol? He seems to use quite a lot of it. 

Not sure if he uses it but he definitely needs it...555.

 

[Pique Dard]

5 hours ago, rooster59 said:

Trump signs orders to lower prescription drug prices

this usa president will never cease to surprise me

[spidermike007]

The Trump administration doing something to benefit the consumer? Defying his corporate overlords? I do not think so. Just a PR stunt. 

 

Wall Street analysts were skeptical that the orders would have much effect on drugmakers and said they could prove difficult to implement in practice.

 

Exactly. My guess is that he cleared the signing of this bill with his big pharma lobbyist friends, before signing it. Guys, I need the votes, and it will not effect your companies anyway. OK? 

[metisdead]

Some troll posts and replies have been removed.

 

A post using content from an unapproved YouTube source has been removed:

 

18) Social Media content is not to be used as  source material unless it is from a recognized or approved news media source,  the source of any such material (Twitter, Facebook, YouTube  etc.) should always be shown.

 

[curlylekan]

10 hours ago, Bluespunk said:

You’re not wrong Brian, you’re not wrong. 

And what's wrong with that? Please tell me one politician who is truly altruistic. Our western systems of government have been designed to do exactly what Trump is doing. Since no one can be truly altruistic we have systems of government that are accountable to the people through the ballot box.

[curlylekan]

9 hours ago, OneMoreFarang said:

If Trumps would really want to lower the cost for the people and let big pharma make less profit that would probably be the first time that Trump works for the people and not for the influential industry. How likely is that?

Above explanation makes a lot of sense.

And what's wrong with that? Please tell me one politician who is truly altruistic - doing something for no benefit of his or her own person. Our western systems of government have been designed to do exactly what Trump is doing. Since no one can be truly altruistic we have systems of government that are accountable to the people through the ballot box.

[Bluespunk]

23 minutes ago, curlylekan said:

And what's wrong with that? Please tell me one politician who is truly altruistic. Our western systems of government have been designed to do exactly what Trump is doing. Since no one can be truly altruistic we have systems of government that are accountable to the people through the ballot box.

It’s a cynical ploy by trump to appear as if he’s doing something, (when in reality he’s not) because he’s tanking in the polls and is worried, quite rightly, that he is going to be beaten in November. 
 

From the OP

 

”Wall Street analysts were skeptical that the orders would have much effect on drugmakers and said they could prove difficult to implement in practice.”

[Saraburi121]

12 hours ago, OneMoreFarang said:

14 hours ago, rooster59 said:

"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.

If Trumps would really want to lower the cost for the people and let big pharma make less profit that would probably be the first time that Trump works for the people and not for the influential industry. How likely is that?

Above explanation makes a lot of sense.

Excellent posts, couldn't agree more.  Prescription drugs costs are out of control, if you don't have good insurance you are in trouble.  A lot of folks in the US are one illness away from bankruptcy.  

[metisdead]

Some off topic posts, troll posts and the replies have been removed.  

[Tippaporn]

19 hours ago, Kelsall said:

Thank you, duly-elected President and Commander-in-chief Donald J. Trump!

You forgot to mention, "and future two-term President."

[Tippaporn]

No matter what good Trump does or tries to do, even something as substantial as lowering drug prices, the left will refuse to recognize it and continue to see all of his actions with a jaded eye.  A PR stunt.  It must be a PR stunt!  The bias is crippling (for yourselves, not for others).

[OneMoreFarang]

8 hours ago, curlylekan said:

And what's wrong with that? Please tell me one politician who is truly altruistic - doing something for no benefit of his or her own person. Our western systems of government have been designed to do exactly what Trump is doing. Since no one can be truly altruistic we have systems of government that are accountable to the people through the ballot box.

There are lots of "good" politicians all over the word. But unfortunately do the stupid masses vote often for supposedly strong man who often have easy answers to complex problems. If a honest politician tries to tell the people the truth that there are no easy answers to most complex questions that does mostly not work with the average voter...

 

I think Merkel is one of the exceptions from that rule. She is not perfect but pretty good. And she definitely works for the people and not to benefit herself.

[Tug]

15 minutes ago, Tippaporn said:

No matter what good Trump does or tries to do, even something as substantial as lowering drug prices, the left will refuse to recognize it and continue to see all of his actions with a jaded eye.  A PR stunt.  It must be a PR stunt!  The bias is crippling (for yourselves, not for others).

Many will belive it when they see it rember the old saying deeds not words the deeds we have seen from trump have been to try and destroy the crappy healthcare system we have and let’s not forget the attacks on women’s health and their right to control their reproductive rights those deeds we have seen paying lip service to lowering drug prices well we will just have to see what actually happens 

[Tippaporn]

30 minutes ago, Tug said:

Many will belive it when they see it rember the old saying deeds not words the deeds we have seen from trump have been to try and destroy the crappy healthcare system we have and let’s not forget the attacks on women’s health and their right to control their reproductive rights those deeds we have seen paying lip service to lowering drug prices well we will just have to see what actually happens 

Your post makes no sense, Tug.  "Many will believe it when they see it."  Well, they're seeing it in this instance and not believing it.  Some are calling it merely a PR stunt.  Haven't read a single lefty comment in approval.  At least not without an embittered caveat.

 

"Deeds, not words."  This is a deed, is it not?  So what are you talking about, exactly?

 

The problem with lefties is that they refuse to acknowledge any good at all.  So consumed are they in their hatred for the man.  You can argue it all you like but it is true to say that it's an absolute impossibility to be objective when one is so dominated by hatred that one refuses to accept the good which exists.  If you can't be objective then your view of reality becomes a gross distortion.  So sane people are then expected to take these ramblings as reflections of truth?  My response . . . LMAO.

[Tug]

1 hour ago, Tippaporn said:

Your post makes no sense, Tug.  "Many will believe it when they see it."  Well, they're seeing it in this instance and not believing it.  Some are calling it merely a PR stunt.  Haven't read a single lefty comment in approval.  At least not without an embittered caveat.

 

"Deeds, not words."  This is a deed, is it not?  So what are you talking about, exactly?

 

The problem with lefties is that they refuse to acknowledge any good at all.  So consumed are they in their hatred for the man.  You can argue it all you like but it is true to say that it's an absolute impossibility to be objective when one is so dominated by hatred that one refuses to accept the good which exists.  If you can't be objective then your view of reality becomes a gross distortion.  So sane people are then expected to take these ramblings as reflections of truth?  My response . . . LMAO.

Don’t assume I’m a lefty more of a Lincoln project kinda guy I’ll make it real simple I and many others will believe it when we see it rite now it an aspiration not a fact or reality many of us see the results of what trump has done to our country and don’t like it hey but ok you hit all your safe words hate lefty lol I’m not a mark lmao

[stevenl]

1 minute ago, Tug said:

Don’t assume I’m a lefty more of a Lincoln project kinda guy I’ll make it real simple I and many others will believe it when we see it rite now it an aspiration not a fact or reality many of us see the results of what trump has done to our country and don’t like it hey but ok you hit all your safe words hate lefty lol I’m not a mark lmao

Of course you're a lefty, communist, Marxist, antifa agitator. You dare to argue against Trump.