Trump assails high drug prices but avoids action

13 May, 2018, 01:03 | Author: Brooke Harris
  • President Donald Trump speaks during a roundtable discussion on tax reform at the Cleveland Public Auditorium in Cleveland Ohio U.S. May

But the announcement also represented a shift and arguably a reversal for Mr. Trump, who as a candidate and newly elected president said he would embrace more far-reaching ideas, such as allowing the importation of lower-cost prescription drugs and letting Medicare negotiate directly with drugmakers.

The federal government now pays providers 6% more than the average price of those medicines.

Just last month, the U.S. in its annual report card on the protection of intellectual property rights around the world had criticised the drug pricing and reimbursement policies of India and several other countries like Canada, South Korea, Japan, New Zealand and a number of European nations, saying that they did not adequately recognise the value of innovative medicines.

Allowing Medicare to negotiate prices is unacceptable to the powerful drug lobby, which has spent tens of millions of dollars since Trump's inauguration to influence the Washington conversation around drug prices, including a high-profile TV advertising campaign portraying its scientists as medical trailblazers. "It's unfair and it's ridiculous, and it's not going to happen any longer", Trump asserted. "We are not going to reward companies that constantly raise prices, which in the past has been most companies".

Azar said in a speech Wednesday that other countries are "free-riding off of American investment in innovation", a reference to the United States' paying much more for drugs than many other developed countries.

The Pharmaceutical Research and Manufacturers of America, or PhRMA, praised the move but expressed concern about other proposed changes to Medicare.

Some of the administration's longer-term priorities include restricting use of rebates, creating incentives for drugmakers to lower list prices and investigating tools to address foreign government practices that it said could be harming innovation and driving up U.S. prices. The president unveiled his blueprint, coined American Patients First, in a Rose Garden ceremony on Friday. The industry has touted the slower growth as it weathers public backlash. He said he would make it easier for pharmacists to inform patients of cheaper alternatives and would speed the approval of over-the-counter drugs "so that patients can get more medicines without prescription".

Look into reducing or eliminating the drug supply chain's reliance on rebates pharmacy-benefit managers negotiate in secret with drug companies.

Trump officials have hinted for weeks that the plan, in part, will untangle the convoluted system of discounts and rebates between drugmakers and insurers, pharmacy benefit managers and other health care middlemen.

A political party has given 'supari' to kill me: Mamata Banerjee
It hadn't gone unnoticed that Ms Banerjee did not congratulate him then nor for the Congress's improved performance in Gujarat. However, she stopped short of naming any political party. "The Congress does not even protest", she pointed out.

"It's not everything I'd hoped for", Dr. Bach said in an interview, but "this is a sign the administration wants to work on a number of fronts, and I'm encouraged by that".

Since Trump took office, most of the action on drug pricing has come from the Food and Drug Administration, which has gone about as far as it legally can on the issue by pushing for greater competition in drug markets. Drug prices vary widely based on a consumer's insurance plan.

"A lot of what they focus in on is not really the price of pharmaceuticals, as much as the out-of-pocket payments of the patients at the pharmacy", said Craig Garthwaite, an associate professor of strategy at Northwestern University's Kellogg School of Management. Pharmaceutical stocks dipped slightly during the president's speech before rising again. Presciption rices have not been lowered at all.

Requiring Part D plans to pass on rebates to consumers is one idea PBMs have rallied against.

The president also blasted foreign governments, alleging they force drug companies to sell at low prices in their countries, driving up costs for American consumers.

Azar said he would meet with the White House next week to begin implementing the proposals, which will take months to go through the rulemaking process.

Democrats called Trump's promises hollow, pointing to December's tax law that slashed the corporate tax rate for drug manufacturers, insurers and pharmacy benefit managers.

But he dropped the popular proposals of his campaign, opting not to have the federal government directly negotiate lower drug prices for Medicare. "Why? Because of the drug companies". An AARP report last year found the average annual price of drugs widely prescribed to seniors increased to $12,951 from $6,425 five years ago. Democrats blame high health costs on GOP efforts to dismantle the Affordable Care Act without a plan to replace it, while Republicans continue to fault the law itself, also called Obamacare. But the president has offered nothing but "radio silence" since then, Cummings said Thursday.

Neither of those proposals was mentioned in Friday's speech. Specifically, the blueprint calls for HHS to leverage the Competitive Acquisition Program for Part B. The plan would seek to improve negotiation within the Medicare program, but not by using the government's clout to negotiate for Medicare as Trump has previously proposed.


  • America's Oldest WWII Veteran Celebrates 112th Birthday

    America's Oldest WWII Veteran Celebrates 112th Birthday

    To help with this expense, his family created a GoFundMe page for Overton that has raised more than $230,000 of its $400,000 goal. The street on that he resides - Richard Overton Avenue - was named in honor of the 111th birthday past year , according to FOX7.
    Aston Martin DB11 AMR

    Aston Martin DB11 AMR

    Moving further back, we can see a gloss black roof, carbon fiber mirror caps and 20-inch forged alloy wheels with a dark finish. This variant gets more carbonfibre detailing and an interior trimmed with Dark Knight leather and contrasting lime details.
    Australia: Four children among seven killed in country's worst shooting since 1996

    Australia: Four children among seven killed in country's worst shooting since 1996

    Only a month ago, Ms Miles claimed on her Facebook page that: "My ex does not stop stalking me" according to The Australian . Western Australia Premier Mark McGowan tweeted after the incident: "The events in our South West are tragic and shocking".
  • VIRAL: Officer puts man in chokehold inside Waffle House after prom

    VIRAL: Officer puts man in chokehold inside Waffle House after prom

    There's a video that shows a heated Wall going back-and-forth with the crew members. The officer in the video has not been formally identified.
    11-year-old girl jump from moving auto  during IL  carjacking

    11-year-old girl jump from moving auto during IL carjacking

    Video from a service station shows the girl jumping out, before being comforted by her father, who had tried to stop the thieves. The Aurora Police Department said in a statement that police responded to the BP gas station located in the 1200 block of N.
    Fire Breathing Disney Dragon Catches Fire During Magic Kingdom Parade

    Fire Breathing Disney Dragon Catches Fire During Magic Kingdom Parade

    Park officials said no one was hurt in the blaze and the fire was extinguished relatively quickly after it started. No word on what will happen to the dragon float, but I hope they fix it and continue with this parade.
  • Weekly President Energy Plc (LON:PPC) Ratings

    Amalgamated Bancshares invested in 10,563 shares or 0.01% of the stock. 14,210 are owned by Jacobs Levy Equity Mgmt. The Granite Point Capital Management Lp holds 388,000 shares with $2.55M value, down from 458,302 last quarter.
    Mogherini: Iran nuclear deal will hold

    Mogherini: Iran nuclear deal will hold

    The old world order is breaking down and the new one will take time to emerge from the current chaos. He has no intention of invading Iran, but is setting the stage for regime change from within.
    Dubas named Leafs new GM

    Dubas named Leafs new GM

    And like Chayka, Dubas has a background in statistical analysis, first emerging as a general manager for his hometown Sault Ste. The Maple Leafs finished third in the Atlantic Division this season and set franchise records with 49 wins and 105 points.
  • Gennaro Gattuso distances himself from decision about Gianluigi Donnarumma's future

    Gennaro Gattuso distances himself from decision about Gianluigi Donnarumma's future

    We all make mistakes and today we can't judge Donnarumma. "I feel bad that we brought 35,000 people here to watch us lose like this".
    Modi, Oli inaugurate Janakpur-Ayodhya direct bus service

    Modi, Oli inaugurate Janakpur-Ayodhya direct bus service

    Earlier, Defence Minister Ishwar Pokhrel and Province 2 Chief Minister Lalbabu Raut received Modi at the airport upon his arrival. Similarly, Nepal is incomplete without India and India is incomplete without Nepal", he said.
    Jos Buttler slams fourth consecutive fifty for Rajasthan Royals in IPL 2018

    Jos Buttler slams fourth consecutive fifty for Rajasthan Royals in IPL 2018

    CSK posted 176 runs for the loss of four wickets, Rajasthan posted 177 runs for the loss of six wickets to ensure a victory. In the next over, he got a couple of more boundaries with a cut and a cover drive off Krishnappa Gowtham.


Woman to be executed for killing man during rape
Shahd Hamza, 20, was among those who came to support Hussein in court, after hearing about her case in a group chat on WhatsApp. A 19-year-old woman in Sudan was sentenced to death for fatally stabbing her husband for raping her.

North Korea Announces 'Ceremony' to Dismantle Nuclear Test Site in May
A dismantling "ceremony" will be held and journalist from the U.S., South Korea and elsewhere will be invited, Pyongyang said. He said on April 20 that his nation already had "completed its mission" to test its weapons capability.

Women Take To Cannes Red Carpet To Protest Inequality In Film
Festival director Thierry Fremaux earlier this week hailed Saturday's event as a way for women "to affirm their presence". Cannes' lack of women directors in Competition has been one of the festival's biggest problems for decades.

United States diplomats in Pakistan to face restrictions
The development came amid escalating hostile relations between USA and Pakistan, which were once allies in war on terror. In reply, Pakistan also planned to impose restrictions on US Diplomats in Karachi, Islamabad , and Lahore.

Apple Music, Spotify Remove R. Kelly Songs from Featured Playlists
Afterward, there were some people who agreed with the rapper's point since he hasn't been convicted of any of the charges yet. He settled multiple lawsuits with women, and was acquitted by a jury on charges of possessing child pornography.

Kenya's Patel dam bursts, sweeping away homes in Solai
He added: "I am told some residents reported the issue to the management and also tried to prevail upon them to fix the dam". Nakuru Governor Lee Kinyanjui said the exact number of the affected families was yet to established.

How you can help 'Stamp Out Hunger' in Houston on Saturday
The food drive has become the nation's largest one-day campaign to collect food for distribution to needy families. Postal employees collected about 30,000 pounds of food previous year and are hoping to top that total on Saturday.

Starbucks' Chairman: Bathrooms open to anyone who needs them
Starbucks , as previously announced, will close its USA stores for an afternoon of racial-bias training May 29. In the case of the Philadelphia store, however, the manager's judgment didn't cut it.

Woods to play British Open at Carnoustie
The victor receives $1,890,000, which is more than Arnold Palmer made in the 734 tournaments he played in his career. You know, Tiger and Phil are still two of the biggest names in our sport, so they deserve to be talked about.

'Solo: A Star Wars Story' premiere turns Hollywood Boulevard into landing strip
A Star Wars Story was a star-studded affair, full of the Hollywood elite and fortunate media members lucky enough to attend. Critics said the movie is a amusing , "non-stop adventure" that is a "welcome addition to the " Star Wars " universe".