What pharma fears about Trump’s upcoming speech on drug prices
President Donald Trump will deliver a speech on April 26 focused on ways to lower prescription drug prices, but the pharmaceutical industry doesn’t expect it to include the more dramatic reforms Trump espoused on the campaign trail.
Axios first reported on speech being scheduled. In a deeper preview of the speech, reporter Caitlin Owens said Trump’s remarks should be followed by several agency actions:
· HHS will issue for a request for information on drug price policies.
· CMS will alter its drug pricing dashboard, with the proposal being called a “shaming tool” by an Axios source.
· The FDA will continue efforts on expanding the availability of generics.
None of those proposals worry the Pharmaceutical Research and Manufacturers of America (PhRMA). President and CEO Stephen Ubl said his lobbying group would welcome policies “like promoting value-driven health care and giving patients access to rebates at the pharmacy counter.”
What would alarm pharmaceutical companies would be allowing drugs to be imported from other countries or allowing negotiation in Medicare Part D. But those wider-reaching changes are unlikely, despite Trump supporting them as a candidate. HHS Secretary Alex Azar, a former pharmaceutical executive, has agreed that drug prices are too high but opposed Medicare price negotiation and argued importation of drugs would be “unsafe,” which led one Republican, Sen. Rand Paul of Kentucky, to vote against his confirmation.
“I would be deeply shocked if this administration came up with something for him that matched his ‘drug companies are getting away with murder rhetoric,'” said Rodney Whitlock, a lobbyist with the Campaign for Sustainable Drug Pricing.
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John joined TriMed in 2016, focusing on healthcare policy and regulation. After graduating from Columbia College Chicago, he worked at FM News Chicago and Rivet News Radio, and worked on the state government and politics beat for the Illinois Radio Network. Outside of work, you may find him adding to his never-ending graphic novel collection.