President Unveils ‘TrumpRx’ Site For Discounted Drugs And Deal With Pfizer
Pfizer has agreed to sell its drugs at lower prices to Medicaid patients and also to sell some of its meds on a “TrumpRx" website. The Wall Street Journal looks at how "TrumpRx" might work, while Mark Cuban gives the site a "B."
NBC News:
Trump Announces Deal With Pfizer To Lower Drug Prices, Including 'TrumpRx' Website
President Donald Trump announced Tuesday that his administration has reached a deal with Pfizer for it to voluntarily sell its drugs at lower prices to Medicaid patients. As part of the deal, Trump said, Pfizer will sell some of its drugs on a new “direct to consumer” website called “TrumpRx.” Trump said the website would be operated by the federal government, but offered few details about how the program would work. (Lovelace Jr., 9/30)
The Wall Street Journal:
What Is ‘TrumpRx,’ What Drugs Are Available And How Does It Work?
Many details are still sparse, but the deal is likely to have little impact on what most Americans pay at the pharmacy counter, experts said. More than 300 million people in the U.S. are enrolled in health plans through their employers or government programs, most of whom will likely save more money using their insurance. Here’s what to know about TrumpRx. (Walker and Loftus, 10/1)
Business Insider:
Mark Cuban Gives Trump's Proposed Direct-To-Consumer Prescription Drugs Website A 'B'
Mark Cuban is giving President Donald Trump's new direct-to-consumer online drug store venture a "B" — for now. ... Cuban, the billionaire venture capitalist, commented on X that this would be good for patients and could actually boost business for his Cost Plus Drugs, which runs on a similar model. He said that the administration has "some great people working on this project," but he would "give the program, and what we know, as of today, a grade of B." (Li and Griffiths, 9/30)
In related news —
The Hill:
Trump’s Deadline On Drug Prices Arrives: What Next?
President Trump’s strategy to lower prescription drug prices will be put to the test as drugmakers must now commit to the terms of his “Most Favored Nation” pricing plan or face unspecified actions from the federal government. Trump gave drugmakers until Sept. 29 to respond to his Executive Order “Reducing Drug Prices for Americans and Taxpayers.” The order calls on manufacturers to provide preferential pricing to all Medicaid patients, requires that they not give better prices to other developed countries on new drugs, create a way to sell directly to consumers and use trade policy to raise prices internationally so that revenue is reinvested into lowering American prices. The Hill has reached out to all 17 companies named by the Trump administration for comment. (Choi, 9/30)
Truthout:
Cost Of 688 Prescription Drugs Increased Since Trump Took Office, Sanders Says
The prices of almost 700 prescription drugs have increased since President Donald Trump took office, according to a report released today by Sen. Bernie Sanders (I-Vermont). Twenty-five drugs have more than doubled in price, according to the report. (Weill-Greenberg, 9/29)
More on the high cost of prescriptions —
The Wall Street Journal:
Cardinal Health To Build Indianapolis Pharma Plant To Supply Growing Distribution
Cardinal Health is building a flagship pharmaceutical distribution center in Indianapolis to keep up with its growing customer base and the shifting needs of drug companies. The planned 230,000 square-foot plant is the healthcare company’s latest step in a 10-year plan to modernize and expand its distribution network. Pharmaceutical distribution remains Cardinal’s most lucrative business, and it is continuing to gain customers. The Dublin, Ohio, company added more than $10 billion of new business in the last fiscal year, said Debbie Weitzman, chief executive of Cardinal’s pharmaceutical and specialty solutions business. (Hamilton, 9/30)
Becker's Hospital Review:
340B Rebate Pilot Would Cost Hospitals $400M: AHA
If HHS’ 340B rebate model pilot proceeds as planned, more than 2,700 U.S. hospitals will collectively be saddled with approximately $400 million in operational costs and 11.2 million labor burden hours, according to the American Hospital Association. The rebate model, slated to go into effect Jan. 1, will allow drug manufacturers that are part of CMS’ first cycle of negotiated drug prices to provide rebates — rather than upfront discounts — for 340B entities. Congress established the 340B program in 1992 to require drugmakers to sell specific outpatient drugs to eligible providers at discounted prices. (Twenter, 9/30)
