Thursday, October 22

Trump signed four executive orders to lower prescription drug costs for all Americans

Washington, D.C.—For the first time in five decades, today, President Donald J.  Trump signed four Executive Orders “to massively lower prescription drug costs and increase Americans’ access to life-saving medications, including insulin.”

President Trump has taken action to lower the cost of prescription for American citizens who “often pays 80% more for these drugs than other developed countries.”  Trump signing ceremony was held the signing ceremony at the White House alone with

“I’m signing four sweeping executive orders that will lead to a massive reduction in drugs costs,” Trump said during a press briefing at the White House. “[The measures] will completely restore the prescription drug market in terms of prices.”

  • The first Order directs federally qualified health centers to pass along massive discounts on insulin and epinephrine received from drug companies to certain low-income Americans.
  • “The second Order will allow State plans for safe importation of certain drugs, authorize the re-importation of insulin products made in the United States, and create a pathway for widespread use of personal importation waivers at authorized pharmacies in the United States.” The order to also allow wholesalers and pharmacies to legally import prescription drugs from Canada and other countries, where Americans pay more for the identical drugs at a cost and as much as 90 percent lower than in the U.S.
  • The third Order cuts out the middleman and “will prohibit secret deals between drug manufacturers and pharmacy benefit manager middlemen, ensuring patients directly benefit from available discounts at the pharmacy counter.”
  • The fourth and final Order ensures that the United States pays the lowest price available in economically comparable countries for Medicare Part B drugs.

U.S. citizens could receive rebates from drug companies directly to patients for insulin and Epipens in a bid to prevent providers from pocketing the discounts themselves while charging the patient higher prices.

“The Trump Administration has also taken action to improve transparency in healthcare prices, encourage competition, lower costs, and put patients in charge of their health decisions.”