Tags: Trump Administration | prescription | drugs | price | regulations

Trump Administration to Unveil Drug Price Regs

drugs on pharmacy shelves
(Andreas Arnold/picture-alliance/dpa/AP Images)

By    |   Thursday, 19 November 2020 09:31 PM

Two new regulations intended to reduce the price of prescription drugs are expected to be unveiled by the Trump administration on Friday and go into immediate effect, The Wall Street Journal reported.

The announcement would fulfill a long-standing pledge by President Donald Trump to lower drug costs and is aimed at two targets, tying the costs of particular drugs to prices in other developed countries and eliminating rebate payments to third parties in Medicare, the Journal said.

Pharmaceutical companies reportedly had argued against the price control portion while pharmacy-benefit managers, who negotiate with drug makers on behalf of health organizations, insurance companies, and pharmacies, lobbied against eliminating the rebates.

The regulations have already gone through the comment period meaning they can be enacted immediately, the Journal said.

It claimed that pharmacy-benefit managers often negotiate rebates or discounts for prescription drugs that are not always passed on to customers.

While pharmaceutical companies have sought to end the rebates, pharmacy-benefit managers have opposed any change because they retain some of the money, the Journal reported.

The rule pegging prescription drug costs to prices in other countries aims to lower prices for some of the highest-cost drugs in Medicare. But the Journal quoted a spokeswoman for the Pharmaceutical Research and Manufacturers of America as saying the rule would “allow foreign governments to arbitrarily decide what medicines are worth in the United States and what diseases are worth investing in.”

Additionally, the Journal said some health-policy leaders expect the rule to be challenged in court. Companies have said it would deprive them of revenue used to research and develop other drugs and could restrict new therapies and treatments.

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Two new regulations intended to reduce the price of prescription drugs are expected to be unveiled by the Trump administration on Friday and go into immediate effect, The Wall Street Journal reported....
prescription, drugs, price, regulations
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2020-31-19
Thursday, 19 November 2020 09:31 PM
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