President Trump has signed 4 executive orders directed at reducing the prices of prescription drugs. This step can be interpreted as one to smoothen the uphill re-election battle he is staring at. And his handling of the coronavirus pandemic has been heavily criticized as well.
Trump had earlier proposed most of the changes the executive orders made. This is the first time the proposals were made into signed executive orders.
One order allows the legal importation of cheaper prescription drugs. Another requires discounts from drug companies to be passed on to patients directly, which as of now middlemen capture, Trump said.
Another measure will lower the cost of insulin costs while a fourth would require Medicare to purchase drugs at the same price that other countries pay.
Executives of the top drug companies have asked for a meeting to discuss the lowering of drug prices.
“We will see what those discussions indicate but the agency is prepared to move forward,” said Medicare chief Seema Verma.
The orders were pushed back by the pharmaceutical industry. The move was “a reckless distraction that impedes our ability to respond to the current pandemic – and those we could face in the future,” Pharmaceutical Research and Manufacturers of America said in a statement.