Takeaways From Trump's Plans to Try to Lower Drug Prices

President Donald Trump speaks during a roundtable discussion on tax reform at the Cleveland Public Auditorium in Cleveland Ohio U.S. May

Congress could implement policies Trump previously proposed, including capping seniors' out-of-pocket spending on drugs in Medicare, or requiring discounts negotiated by drug plans to be shared with seniors at the pharmacy counter. However, one of the administration's proposals "requiring drug rebates to be passed through to Medicare patients at the pharmacy counter would likely lead to higher drug prices from manufacturers, and would lead to higher premiums for seniors, as well as $40 billion in additional costs for hardworking taxpayers". But the plan released Friday called for only a limited version involving Part D.

On the competition front, some of the highlights include plans for immediate steps to prevent drug manufacturers from gaming regulatory processes, such as using risk evaluation and management strategies, and to look for ways to encourage sharing of samples needed for generic drug development.

The Problem: Americans spend more on prescription drugs - more than $1,100 per person, on average, in 2015 - than anyone else in the world.

"Whether it has a corresponding effect of lowering prices here in the United States is another story", he said.

During the 2016 campaign, Trump had repeatedly insisted that Medicare should negotiate with suppliers to bring down prices paid under the program.

And the system for paying for the drugs dispensed under Medicare's Part B program also has to change, Azar added.


In a strong indication that investors and major pharmaceutical companies know President Donald Trump's newly unveiled drug plan "will do nothing to rein in their greed", Big Pharma stocks soared on Friday as Trump delivered a brief and extremely vague speech promising to lower drug costs that critics called a "cover-up for the sweetheart deal" he's offering America's price-gouging drugmakers. Drug manufacturers argue that list prices do not reflect actual cost with discounts and rebates. "If you're activating a patient to have a discussion with their doctor about a drug, it's relevant to find out if it's a $50,000 drug or a $100 drug because often a patient is going to bare a lot of that cost", Azar told reporters after the speech.

For far too long, profiteering had been the drug of choice for the pharmaceutical industry.

But Express Scripts Inc., a St. Louis-based PBM that's being acquired by Cigna Corp., praised the administration's proposals.

Familiar in its themes and rhetoric, the speech touched on everything from privatization to patent laws, while spotlighting plans to kill "gag rules" affecting pharmacists and to "demand fairness overseas" where Trump said foreign governments "extort unreasonably low prices from US drugmakers", putting the onus of subsidizing R&D costs squarely on Americans.

Health care analysts and observers were - well, lets' just say underwhelmed by Trump's presentation, with many saying that the details of the blueprint didn't live up to the president's tough talk. Democratic Rep. Lloyd Doggett of Texas dismissed Trump's plan as "a sugar-coated nothing pill". Frank Pallone (D-N.J.), ranking member of the House Energy & Commerce Committee, in a statement. 340B is a critical tool in the toolbox that provides drugs at lower prices to those on the front lines of patient care. The blueprint charts a different path than Trump's initial policy goals touted during his presidential campaign, when he promised to authorize Medicare to negotiate directly with drug companies and import drugs from foreign countries, ideas that have drawn criticism from pharmaceutical companies and industry groups. "For Aetna, the average price of brand name drugs has increased by 40 percent over the past three years".

Related:

  • Apple reportedly planning direct subscriptions for video services

    Apple reportedly planning direct subscriptions for video services

    Netflix and YouTube (owned by rival Alphabet), operate the two largest online video services in the world outside of China. Apple TV box market share trails rivals Roku, Google Chromecast and Amazon Fire TV, according to research firm EMarketer.
    RBS agrees 'milestone' £3.6bn U.S.  fine over subprime lending

    RBS agrees 'milestone' £3.6bn U.S. fine over subprime lending

    RBS reported its first annual profit in a decade in February, making a profit of £752m in 2017, following a £7bn loss in 2016. RBS is also expected to resume dividend payouts to shareholders following the settlement.
    Haspel, Trump's pick to lead Central Intelligence Agency , pledges she won't restart interrogation program

    Haspel, Trump's pick to lead Central Intelligence Agency , pledges she won't restart interrogation program

    Haspel is eminently qualified, she's widely esteemed, and she's absolutely the right person at the right moment", McConnell said. Rand Paul , R-Ky., Haspel's only other Republican critic, warning that if he opposed Haspel, he was standing with al-Qaida.
  • After cleaning out half the Avengers, Thanos arrives to take over Fortnite

    After cleaning out half the Avengers, Thanos arrives to take over Fortnite

    The first player to obtain the gauntlet will turn into Thanos and be able to utilize all of the gauntlet's powers. The crossover mode is free for all platforms and will be available for a limited time.
    Google relaunches service to fight fake news

    Google relaunches service to fight fake news

    Professor Michael Milford, chief investigator at the Australian Centre for Robotic Vision, said transparency will be key. Google didn't return a request for comment Wednesday on how it plans to seek the consent of people called by its bots.
    At Least Seven Killed In Attacks On Police Stations In Kabul

    At Least Seven Killed In Attacks On Police Stations In Kabul

    Violence in Afghanistan has surged since the Taliban launched its annual spring offensive, dubbed as "Al Khandaq", two weeks ago. Zabihullah Mujahed, Taliban spokesman, claimed responsibility for the attack on Police Station 10 in a tweet.
  • Pound Declines As BoE Holds Rate Steady, Cuts Growth Forecasts

    The second reason the central bank opted against another rate increase is that inflation has fallen more than anticipated. They repeated their calls for a rise to 0.75% to avoid more "abrupt" policy action further down the line.
    Twitter could soon add encryption to direct messages

    Twitter could soon add encryption to direct messages

    Twitter's DM feature has become a useful way of contacting strangers without acquiring their email address or phone number. Instant messaging app WhatsApp also uses "end-to-end encryption" while this can be opted into Messenger, as well.
    Trump's GOP 'warriors' lead charge against Mueller

    Trump's GOP 'warriors' lead charge against Mueller

    And Giuliani has called into question whether Trump would be treated fairly by Mueller's prosecutors if he were to agree to an interview.
  • Revise Iran nuclear deal: Arab League

    Saudi Arabia has expressed support for the US pulling out of the nuclear deal, saying it did not adequately address Iran's behavior in the region.
    I'm not worthy of the Nobel prize

    I'm not worthy of the Nobel prize

    He said taking military action to stop the country creating nuclear weapons would be a unsafe path. He acknowledged problems with the pact but argued the president could help to put them right.
    North Korea Warns The United States

    North Korea Warns The United States

    Trump told the National Rifle Association's annual convention on Friday that he had toned down his rhetoric before the talks. The Rodong Sinmun commentary, however, said that Japan must first shift its stance on maintaining pressure on the North.

Comments

Latest news

Kevin Kamenetz, Maryland gubernatorial candidate, dead at 60
On Twitter, Hogan wrote, "the First Lady and I are shocked and grieved by the sudden passing of [Kamenetz]". Kamenetz was part of a handful of Democrats seeking to run against incumbent Republican Larry Hogan.

LeBron James Told the Raptors How to Run Plays During Game
Simmons: He's playing against himself and not the other people, and saying 'Oh, I wonder if I can make this shot. He believes they could have existed together, but James didn't need him.

Another Tesla crash: NTSB launches investigation
Two of them died as a result of the accident and one was at the hospital in an unknown condition as of yesterday. The NTSB said it revoked it, while Tesla said it voluntarily chose to remove itself from the party agreement.

United States shopper costs rose a modest 0.2 % in April
Today's report continues a four-month trend of surging inflation, with the CPI-U index rising 1.62% over that period. Those numbers indicate moderate inflation, but the 12-month increase of 2.5% indicates steadily climbing inflation.

Zidane convinced Ronaldo will be fit for Champions League final
We have three games. "I think that without Lionel Messi, the Argentinian national team wouldn't be in contention". "I don't think about injuries or what could happen to players ahead of the Champions League final", he said.

Local High School's Make the Grade, Tops In CT On National List
OSHS ranked #1476 out of the 22,000 schools examined, meaning it ranked among the top seven percent of all high school nationwide. He credited the work of faculty and staff and support of parents and community members in helping the school be successful.

Crazy TD Garden Crowd Sure Left Impression On Joel Embiid, Ben Simmons
After the final horn sounded in Boston's 114-112 win on Wednesday, Embiid walked off the court and straight to the locker room . Embiid's running mate, Simmons, weighed in after the disappointing loss and echoed a similar sentiment of his big man.

May 2018 Patch Tuesday - Medium Weight, However One Active Exploit Needs Attention
Meanwhile the second zero-day is CVE-2018-8120, which is an elevation-of-privilege vulnerability in the Win32k component. The option to name the folder will be shown when you expand the folder that has several tiles in it.

Morrisey defeats Jenkins, Blankenship for GOP Senate nod
He told them that "I$3 f people like me can't win from red states, you'll be in the minority the rest of your life". But Tuesday's turnout, where Republicans outvoted Democrats by almost two to one, doesn't bode well for Donnelly.

Mom and 2 children die after car hits alligator on I-95
A mother and her two young children have died after their auto hit an alligator on Interstate 95 in SC , authorities said. Josh Stanley (top left) along with his spouse Amber Stanley, 24, (top) along with their kids, Jack, 4, and Autumn, 2.

Trump administration hits 3 Venezuelans, 20 companies, with sanctions
Maduro, himself subject to sanctions a year ago , regularly laughs off Washington's disapproval and blames the U.S. He said the OAS must respond to the crisis by removing Venezuela from its membership.

Mark Ingram suspended four games
The 2017 Offensive Rookie of the Year would rack up 728 yards and eight scores while pacing the league with 6.1 yards per carry. That's when he'll find out if he's worth more money than the Saints are paying him.

Reports Indicate Walmart is Ready to Acquire Flipkart
Crown for Indian e-commerce market would now be fought between old local foes - Amazon and Walmart . Flipkart, Amazon and Walmart have all repeatedly declined to comment on the talks.

Kendall Jenner 'Shoves' Assistant Out The Way At Met Gala
Kylie who was making her official red carpet debut since welcoming her daughter, Stormi three months ago didn't fare well either. Kim pulled added hair extensions to her raven locks which she pulled back into elegant half-up do. "She wants a healthy Kanye".

Iran Hails Lebanon Elections as Victory for Entire Lebanese Nation
Under the terms of the new law, voters cast two votes, one for a list of candidates and one for a single preferred candidate. Some 583 candidates stood for the 128-seat parliament, which is equally divided between Lebanon's Muslims and Christians.

Other news