Drugmakers May Lose $390B In Sales Over 5 Years
Other topics of discussion in the Trump White House are, per various news reports reviewed by Bloomberg, promoting cooperative agreements between drug manufacturers and insurance companies, accelerating approval of new treatments, and finding ways to get other countries to pay more for drugs, While the drug industry supports value-based agreements, it also seeks relaxation of federal rules
that mandate discounted prices to hospitals that serve low-income patients, Bloomberg adds.
Indeed, a statement from the White House indicates
that a meeting was held last Friday “as part of the ongoing discussions to reduce the burden of the high cost of drug prescriptions,” per the FT. Trump is expected to issue an executive order on the matter in the near future, according to the FT and various news outlets cited by Bloomberg.
Whatever orders or proposals eventually may emanate from the Trump White House, pharmaceutical companies are facing increasing resistance as they attempt to persuade insurers
and the U. S. government to pay premium prices for their products, the FT says.
“The continued political and public scrutiny over the pricing of both the industry’s old
and new drugs is not going to go away,” Antonio Iervolino, head of forecasting at Evaluate, told the FT.
Instead, Bloomberg cites a Kaiser Health News report
that Trump’s “Drug Pricing and Innovation Working Group,” headed by a former pharmaceutical industry lobbyist, is focusing on a number of proposals.
After discounts, net prices actually fell by 1.2 percent, according to SSR as quoted by the FT.
It’s still unclear whether Trump will retreat from his attack on high drug prices.