FHC Top Story: U.S. President Donald Trump is considering a sweeping executive order that would cut prices on virtually all branded prescription drugs sold to Medicare and other government programs, according to two industry sources who had discussions with the White House.
The administration is now looking at ways to use this or a similar method to lower prices in Medicare’s much larger Part D, which is for widely used prescription drugs patients take at home, such as for cholesterol and blood pressure, the sources said… [read the full story]
Editor’s Note: As Americans, we pay the highest prices for prescription drugs in the world. The U.S. government spends nearly $30 billion per year on prescription drugs for Medicare Part B coverage (medical insurance), and nearly $100 billion in Part D (prescription drug coverage), and yet it is prevented from negotiating prices. Trump’s executive order would hit pharmaceutical companies with price controls for Medicare, the Department of Defense, and the Department of Veterans Affairs. FHC supports this measure. — Ed.
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