On Friday, President Donald Trump followed up on a 2016 campaign promise by unveiling a new plan designed to reduce the price of prescription medication, calling the move “bold and historic.”
During an event at the White House, the president provided details regarding four executive orders that he claims “will completely restructure the prescription drug market.”
Lowering drug costs
“The first order will require federal community health centers to pass the giant discounts they receive from drug companies on insulin and EpiPens directly to their patients,” he said.
“These providers should not be receiving discounts for themselves while charging their poorest patients massive, full prices,” Trump added, promising that the cost will drop “to just pennies a day.”
Meanwhile, the second order “will finally allow the safe and legal importation of prescription drugs from Canada and other countries where the price for the identical drug is incredibly lower.”
This, the president said, was “something other politicians have promised for decades and decades, but never done. They never delivered.”
The third order will compel drug middlemen to pass discounts that they receive from the pharmacy industry on to consumers. “Individual people will make thousands of dollars a year. You’re not going to believe the impact that the things we’re talking about today are — are going to have,” Trump asserted.
The big one
The president referred to his fourth order — which will not be signed until August 24th — as “the granddaddy of them all” and pledged that it would “end global freeloading on the backs of American patients and American seniors.”
“Foreign nations have paid vastly less for the exact same drug — again, in the exact same box, from the exact same plant, from the exact same company,” he complained.
“Under this transformative order, Medicare will be required to purchase drugs at the same price as other countries pay,” Trump pledged.
“We will determine what other medically advanced nations pay for the most expensive drugs, and instead of paying the highest price, Medicare will pay the lowest price and so will lots of other U.S. buyers,” he said.
Elderly Boston resident Paul Madden, who is diabetic, spoke at the event, saying he believed that Trump’s new orders would “ensure affordability and access for all who use insulin.”