U.S. President Trump is preparing an important speech to reduce the price of prescription drugs, as soon as possible, according to CNBC, the US News.
Studies have shown that rising drug prices are having a huge impact on American households. A report last year by the AARP found that the average amount of drugs spent by older Americans increased from $6425 trillion 5 years ago to the current 12951 dollars.
As early as the election campaign, Trump was very angry and sorry for the rising price of drugs. After taking office, he has expressed strong dissatisfaction with the high drug prices in the United States in many public places. In Trump’s view, the U.S. drug price is “astronomical”, he must take measures to reduce the price of medicine.
(Trump sends Twitter to blame for high prices)
For more than a year, Trump’s news about lowering the price of prescription drugs has been a source of great concern to the medical community. Last year, Trump also convened a seminar for drug companies, accusing pharmaceutical firms of “escaping murder” and denouncing other countries ‘ control of drug prices, vowing to lower U.S. pharmaceutical costs.
But according to Trump’s recent statement and comments from government officials who have worked in the pharmaceutical companies, most experts are not too hopeful about Trump’s forthcoming speech, saying the contents of the speech cannot have a significant impact on the price of the drug.
“We are not hopeful, hopefully we are wrong.” “Peter Maybarduk, head of the Global Drug acquisition Program for public citizens, says that most of the previous policy signals were directed in the wrong direction.
Alex Azar, Minister of Health and Human Services (HHS), said Mr Trump wanted more progress on the drug price issue but did not provide details of its implementation. According to Azar, the U.S. Department of Health and Public service recently submitted an unpublished drug pricing scheme to the White House, but he said the programme had little impact on the economy and showed that the Government did not consider fundamental reforms.
The White House has previously said that Trump will use the forthcoming speech to the U.S. Department of Health and Human Services to seek solutions to the problem. But the speech scheduled for April 26 was delayed by Azar hospitalization. The White House spokeswoman did not respond to questions about the content and timing of the upcoming speeches.
In fact, Trump has put some pressure on the drug companies, even critics also expressed appreciation. Meanwhile, the U.S. Food and Drug Administration has speeded up the approval of generic drugs, injecting more competitors into the market. The presidential budget proposal also suggests that some states use leverage to negotiate prices in Medicaid.
In addition, the White House has asked drug welfare regulators (pharmacy benefit managers) to act as intermediaries between pharmaceutical companies and insurers, and forward them to Medicare patients through the cost savings of a large purchase of drugs. Although this way does not reduce the price of medicine, but can reduce the patient’s out-of-pocket costs.
The White House economic Advisers also suggested this year that the government use “enhanced trade policies” to suppress the price of negotiations in other countries, which are much lower than those paid by US patients and insurers.
Some analysts said the measures would have an impact on drug prices, but would take time and could affect only a small percentage of patients.
But, as Rachel Sachs, a law professor at the University of Washington, sees, the current measures are “marginal policies” that do not touch the core. It needs to be clear whether Trump can agree to let Medicare negotiate the price of drugs and whether the government will enforce anti-competitive practices.
Regardless of Trump in the forthcoming speech will give what action, through legislation to solve the drug price problem will be the Trump government in the future to solve one of the first tasks.