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This month, President Trump announced his plan to lower drug prices. The plan does not call for a major overhaul of drug companies’ pricing practices, but does include some proposals that they oppose. Much of Trump’s plan is in the form of suggested actions, and it will take time for actual detailed proposals to be put forward.
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| Trump announces plan to lower drug prices. |
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| Among the biggest policy changes floated by the White House are requiring drug companies to disclose their prices in television ads and cracking down on delay tactics drug companies use to prevent cheaper generic drugs from reaching market. |
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| Much of the plan focuses on the “middlemen”—pharmacy benefit managers (PBMs), who have been criticized for a lack of transparency. |
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| Trump also called for adding more competition into Medicare Part B, moving Part B drugs to Part D, allowing restricted use of the six protected classes of drugs on Part D plans and removing barriers to getting generics on the market faster. |
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| In responding to questions about the president’s plan to lower drug prices, House Speaker Paul Ryan (R-WI) said the Energy and Commerce Committee and the Judiciary Committee are working out a compromise on legislation known as the CREATES Act, which is designed to lower drug prices by penalizing drug companies that try to keep generic drugs off the market. Some Republicans have previously objected to the bill because they say it would invite lawsuits against drug companies. |
For more information on the administration’s plan to lower drug prices and other healthcare news, read our Washington Healthcare Update.