President Donald Trump announced his proposals Friday that he said would reduce the rapidly rising cost of prescription drugs in the United States.
If passed into law by Congress, one proposal could change how drugs are bought and sold among drug companies, insurers, and industry middlemen. Other proposals could lower co-pays for consumers – especially those who have Medicare or high-deductible health plans. An example: one proposal would end the gag clauses that often stop pharmacists from telling consumers about lower-cost drug alternatives.
However, critics say Trump’s suggestions aren’t strong enough.
“What Trump laid out is a policy that Big Pharma can love – and no wonder because Big Pharma wrote it,” said Robert Weissman, president of Public Citizen, a consumer advocacy group.
Trump abandoned his campaign commitment to Medicare Part D negotiation – which would save $16 billion a year or more – and beats up on other countries to make them pay more, doing nothing for American consumers but forcing more rationing overseas, Weissman said.
“Trump’s few tough words for pharma are a cover-up for the sweetheart deal he really is offering the megacorporations that raise prices on Americans by the day,” said Peter Maybarduk, director of Public Citizen’s Access to Medicines program. “The White House plan does little to make medicines affordable or challenge the core problem of making lifesaving therapies available: the industry’s monopoly power and abuse.”
Instead, the swamp of former lobbyists and executives that make up much of the Trump pricing team has designed a plan that pays lip service to reform, but in fact, will protect corporations from public anger at unaffordable medicines, Maybarduk said.
“It is critical that the American people do not fall for this trick,” Maybarduk said. “Instead of making medicines less accessible for people around the world struggling to afford their own health care, the White House should do three things: challenge the industry with full negotiation powers for Medicare, block price spikes, and curb monopoly abuse.”
Democratic lawmakers announced what they called a Better Deal proposal Thursday, which includes allowing the federal government to negotiate with drug companies for lower Medicare drug prices, stopping price gouging by drug companies, and calling for greater transparency in drug pricing. Other proposals introduced by some Democrats in Congress would permit U.S. citizens to legally purchase medication from Canada, where drugs usually cost less.
