Trump to Meet With Big Pharma Execs to Lower Cost of Prescription Drugs

A top Trump priority, lowering prescription drug prices, could see executive action as early as Friday, including a policy to tie Medicare payments to foreign countries’ drug prices, according to five sources familiar with the move.

The White House has also informed several lawmakers about a presidential signing event Friday

The slate of policies will also include a plan for Americans to buy lower-cost prescription medication imported from Canada. Canadian drug importation and the international pricing index have both been on the White House agenda for over a year. The index will match Medicare payments for drugs administered in a doctor’s office more closely with the lower prices other countries pay.

The order is also expected to include a policy to reduce the cost of insulin and Epi-Pens at hospitals through an existing drug discount program, the sources said. That 340B program is funded in part by drugmakers.

“With his strong record of wins to reduce the high cost of prescription drugs, including record generic approvals, lower cost insulin in Medicare, passage of the CREATES Act, and an end to pharmacy gag clauses, President Trump is determined to do even more. The President continues to explore any and all options that will deliver lower cost drugs, while ensuring we have access to the most innovative vaccines and therapeutics in the world,” White House spokesman Judd Deere said in a statement.

The administration plans to officially publish the international pricing index proposed rule, which has been under review at the Office of Management and Budget since June 2019. The White House and the Department of Health and Human Services have toyed with releasing that rule with several times over the last year but then put it on hold.

The administration was considering reviving a rule that would have ended the rebates that drug manufacturers pay to pharmacy liaisons, but Centers for Medicare and Medicaid Services Administrator Seema Verma pointed out that the rule could raise premiums, according to one of the sources.

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In This Story: Canada

Canada is a country in the northern part of North America. It extends from the Atlantic to the Pacific and northward into the Arctic Ocean, covering 9.98 million square kilometres (3.85 million square miles), making it the world’s second-largest country by total area.

Its southern and western border with the United States, stretching 8,891 kilometres (5,525 mi), is the world’s longest bi-national land border. Canada’s capital is Ottawa, and its three largest metropolitan areas are Toronto, Montreal, and Vancouver.

Various Indigenous peoples inhabited what is now Canada for thousands of years before European colonization. The Canada Act 1982, which severed the vestiges of legal dependence on the British Parliament. Canada is a parliamentary democracy and a constitutional monarchy in the Westminster tradition, with a monarch and a prime minister who serves as the chair of the Cabinet and head of government.

As a highly developed country, Canada has the seventeenth-highest nominal per-capita income globally as well as the thirteenth-highest ranking in the Human Development Index. Its advanced economy is the tenth-largest in the world, relying chiefly upon its abundant natural resources and well-developed international trade networks.

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    Donald John Trump was the 45th President of the United States. Before entering politics, he was a businessman and television personality. Trump was born and raised in Queens, a borough of New York City, and received a bachelor’s degree in economics from the Wharton School.

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