President Donald Trump is set to deliver remarks and sign a series of executive orders on lowering drug prices at 3:00 p.m. EDT on Friday, according to his schedule issued by the White House on July 23.
While it is unclear what exactly will be included in the order, a source told The Hill that it is likely to involve “a proposal to reduce some U.S. drug prices by tying them to the lower prices paid in other countries.”
When asked about the plans, White House spokesman Judd Deere declined to discuss specifics but said that the President “continues to explore any and all options that will deliver lower cost drugs, while ensuring we have access to the most innovative vaccines and therapeutics in the world.”
Drug prices have been and continue to be a significant concern for many voters, and Trump had promised to tackle the issue during his first term in office.
“One of my greatest priorities is to reduce the price of prescription drugs. In many other countries, these drugs cost far less than what we pay in the United States,” Trump said in his first State of the Union address in 2017. “That is why I have directed my Administration to make fixing the injustice of high drug prices one of our top priorities. Prices will come down.”
According to Politico, the orders are likely to tell Medicare regulators to eliminate rebates that drugmakers pay to pharmacy benefit managers.
In addition to the rebate rule, other policies include a demand to reduce Medicares drug payments by attempting to ensure the U.S. doesnt pay more than any other county, an order aimed at hospitals that receive steeply discounted medications under the governments drug discount program known as 340B, and encouraging the domestic manufacturing of drugs.
Earlier this month, White House Chief of Staff Mark Meadows told Fox Business that the president was planning to enact “executive orders that will actually make a big difference,” specifically ones designed to lower prescription drug prices.
“Were talking about executive orders that will actually make a big difference, lowering prescription drug prices,” Meadows said. Read More From Source