White House Announces Drug Companies Plan ‘Massive’ Cuts In Prices Soon
The statement appeared to catch administration officials and industry leaders off guard, and no other details were offered.
Bloomberg:
Trump Says Drug Companies To Unveil Price Cuts In Two Weeks
Major pharmaceutical companies will announce “voluntary, massive” cuts in drug prices in two weeks, President Donald Trump said Wednesday, without providing details. “We’re also working very hard at getting the cost of medicine down, and I think people are going to start to see for the first time ever in this country a major drop in the cost of prescription drugs,” Trump said while signing legislation making it easier for terminally ill patients to get access to experimental drugs. (Edney and Sink, 5/30)
Reuters:
Trump Says Drug Companies To Announce 'Massive' Price Cuts Soon
President Donald Trump on Wednesday said he expects major drug companies to slash prices on their products in two weeks, but did not provide details on which companies would do so or how such reductions would be made. Health care lobbyists in Washington said they were caught by surprise and had no idea what Trump was talking about. (Abutaleb and Holland, 5/30)
CQ:
Trump: Prescription Drug Companies To Announce Lower Prices
Trump touted the prescription drug pricing plan the administration released this month, and said the drug company CEOs would make the announcements because of pressure the administration had applied. “Because of what we did, they're going to announce voluntary, massive drops in prices,” Trump said. (McIntire, 5/30)
Politico:
Trump’s Drug Price Comments Appear To Catch Industry Off Guard
A White House spokesperson declined to provide details. Press secretary Sarah Huckabee Sanders at her daily briefing said, “We do expect some specific policy pieces to come out on that soon,” but wouldn't elaborate. The Pharmaceutical Research and Manufacturers of America, the trade group for brand-name drug manufacturers, did not immediately respond to requests for comment. Trump this month issued a 44-page plan to lower drug prices that included steps like requiring drugmakers to list prices in their advertisements, as well as government-funded pilot programs exploring new ways to hold the cost of medicines. (Ehley, 5/30)
Stateline:
Trump Wants Medicaid To Push For Lower Drug Prices – But Will Patients Be Hurt?
A little-noticed part of President Donald Trump’s plan to reduce prescription drug prices could change the way Medicaid has paid for drugs for nearly 30 years. The change might save taxpayer dollars – but it also could make it more difficult for people with certain conditions to get the medicines that work best for them. Under Trump’s new plan, five pilot states will have the power to negotiate directly with drugmakers rather than adhering to the national price formula. And Medicaid programs in those states would be exempt from the requirement that they cover all FDA-approved drugs – an out that could mean huge savings if states refuse to pay for expensive medications. (Ollove, 5/30)
