5 things to know about Trump's plan to lower drug prices

15 May, 2018, 13:44 | Author: Brenda Erickson
  • Drug Importation 'Just a Gimmick,' Says HHS Secretary

Some of the administration's longer-term priorities include restricting use of rebates, creating incentives for drugmakers to lower list prices, and investigating tools to address foreign government practices that it said could be harming innovation and driving up USA prices.

The move includes an FDA evaluation of whether drug manufacturers should be required to list prices in their advertising, as well as longer-term efforts to change the imbalance between what U.S. consumers pay for drugs developed in the United States versus what foreigners pay in their own countries, where drug prices are often substantially lower. "One approach is to move them all [into Part D, but we are also] going to be conducting.an up-to-date study of USA pricing and negotiations for Part B drugs, and we might highlight drugs where we are getting a worse deal compared to other industrialized nations", and maybe conduct a pilot program for purchasing those drugs. Trump said he would instead give private entities more tools to negotiate better deals on behalf of consumers, insurers and employers. Further, Azar said he and the Centers for Medicare and Medicaid Services are developing incentives to lower list prices.

"This is a total rip-off, and we are ending it", Trump said of the so-called "gag rules". That is where India comes, as there is a huge gap in prices of pharmaceutical drugs between India and the US.

Only a small number of biosimilars are now approved by the FDA for cancer treatment.

ABP-215 is approved for the treatment of colorectal, lung, brain, kidney, and cervical cancers in adult patients.

Trump's proposal is created to halt anticompetitive practices by drugmakers. Azar, a former Eli Lily executive, said drugmakers could be punished for standing in the way of generics and biosimilars.

"Everyone involved in the broken system - the drugmakers, insurance companies, distributors, pharmacy benefit managers, and many others - contribute to the problem", Trump said.

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Allardyce said. "Because if they don't play well you can't select them and if they do play well then they stay in the team. The former England manager has had a troubled relationship with Everton fans, who are unhappy at his style of play.

If the trade policies are updated to cater to the demands of the United States, the price of pharmaceutical drugs might rise in India.

Gottlieb pointed to a record number of generic drug approvals in 2017 ( 1000 full or tentative approvals) and said he expects the agency to exceed that number in 2018.

The blueprint does not include a proposal allowing Medicare to directly negotiate drug prices, a promise Trump campaigned on in 2016. Multiple policy changes aim to bring more competition to Medicare Part D plans and to revise reimbursement under Part B. But instead of authorizing the federal government to negotiate Medicare drug prices directly, as urged by Democrats and many consumer representatives, the White House aims to reduce prices and out-of-pocket costs for beneficiaries through greater transparency in Medicare list prices and rebates, limiting price increases on Part B drugs, encouraging greater generic-drug use by low-income seniors, and returning to Medicare beneficiaries those rebates negotiated by pharmacy benefit managers (PBMs) and manufacturers. The administration will also seek feedback on other potential policies. Washington's underwhelmed response to Trump's announcement of the drug pricing initiative last week put officials on the defense. An ASCO spokesperson said the organization is reviewing the administration's plan and declined to make a statement.

The administration's top priority is more efficient negotiating of drug prices in Medicare Part D, especially for drugs in the six protected classes that have been pretty much immune to negotiations in the past.

"As we demand fairness for American patients at home, we will also demand fairness overseas". Peter Maybarduk, director of Public Citizen's Access to Medicines program, said the president's plan does little to make medicine more affordable.

The Community Oncology Alliance (COA) disclosed that it "strongly supports" these efforts in reducing drug prices.

While Trump may have complained repeatedly about the extremely high price of drugs during his Presidential campaign, calling the big pharma companies out of control and claiming that they were getting away with murder, he also filled up his administration with ex-industry executives as well as consultants.



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