Trump’s campaign promise to lower drug prices, was one promise everyone agreed with. Choosing the people over the industry has been a democratic nation for decades. As a result, Republicans were shocked to hear this campaign promise coming from their own presidential nomination. After all, Trump’s campaign promise would align him with Barack Obama, Bernie Sanders, Hillary Clinton, and Nancy Pelosi.
During this long and strange trip since inauguration day, Trump has repeated this promise. Let’s face it, exorbitant drug prices is one of the most damaging aspects of our society. I’d bet if Trump managed to pass some legislation that lowered drug prices, even his demonic reputation would be sanctified.
If he wanted to, Trump could pull it off, easily. With the House and the Senate on his team, Trump could squeeze through any legislation that he wants. Trump could lower drug prices, but he won’t. Unfortunately for your sick baby daughter, her medicine will remain prohibitively expensive.
Drug prices are expected to climb more than 12 percent this year. Americans already spend an average of $858 a year on prescription medication, more than twice the $400 average in the 19 other leading industrial nations. Dispatch article
Sickness walks and money talks! The pharmaceutical industry spends the most in lobbying dollars. In 2016, the second most industry spent $100 million less!
According to Kaiser Health News, the very task force Trump assigned to lower drug prices is starting to sympathize with the pharmaceutical industry.
During the campaign, Trump proposed allowing the Medicare program to negotiate drug prices with pharmaceutical companies. Great idea! In one of his campaign speeches, Trump claimed that such an idea could “save $300 billion”, ThinkProgress article. However, documents from Trump’s task force, show that they are backing away from this idea.
One could only imagine the amount of money the pharmaceutical industry gave to members of Trump’s “task force” to deprive our country’s sick of life-saving medicine!
In fact, if we are to believe the “task force” memos, drug prices will rise even higher!
For instance, one of the “principles” outlined in the documents is extending the patent monopolies on drugs overseas, a policy that threatens to drive up prices because it thwarts generic competition in the global marketplace. One of the central features of the Trans-Pacific Partnership, this policy sparked huge concern among health care advocates during debate over the TPP. Dispatch article
In response to the high drug prices epidemic, according to the document’s, is considering ending discounts for low-income hospitals. Another ‘solution’ is to accelerate the time it takes for the Food and Drug Administration to approve drugs. All in all, it seems as if pharmaceutical industry dictated what changes they wanted to implement.
According to a StatNews article, check out some of the bullet points Trump’s ‘task force’ agreed to. Remember, the point of these meetings was to LOWER drug prices. LOL!!
Extending the patent life of drugs in foreign markets to “provide for protection and enforcement of intellectual property rights.” This will ensure “that American consumers do not unfairly subsidize research and development for people throughout the globe.”
Promoting competition in the U.S. drug market — both by “modernizing our regulatory and reimbursement systems” and limiting “barrier to entry, including the cost of research and development,” according to the documents.
Value-based pricing, when pharmaceutical companies keep the list prices of drugs unchanged but offer rebates if patients don’t improve.
Issuing 10-year U.S. Treasury bonds to drug manufacturers to pay for expensive, hepatitis C drugs. The 2015 Senate investigation, for example, found that though Medicaid spent more than $1 billion on Sovaldi, just 2.4 percent of Medicaid patients with hepatitis C were treated.