President Donald Trump signed a new executive order Sept. 13 targeted at reducing the cost of prescription drugs..
The president signed 4 executive orders targeting drug costs in July, with one set to cover Medicare Part B drugs. He stated that order would go into result Aug. 24 if drugmakers didnt take actions to decrease their costs, but that due date passed with no action, The New York Times reported. On Sept. 13, he withdrawed that order and issued a new, expanded order that likewise covers Medicare Part D drugs.
Experts state it is unclear whether the White House has the authority to carry the order out, according to the Times. Requiring the HHS Secretary to set up the design programs relies on the administrations authority under the Affordable Care Act, which the president and other Republicans are attempting to reverse in the Supreme Court..
” It is inappropriate that Americans pay more for the exact very same drugs, typically made in the exact same locations. Other nations governments regulate drug prices by working out with drug makers to secure bargain prices, leaving Americans to make up the difference– efficiently supporting development and lower-cost drugs for the remainder of the world,” the order states..
The president signed four executive orders targeting drug rates in July, with one set to cover Medicare Part B drugs. He said that order would go into effect Aug. 24 if drugmakers didnt take steps to decrease their rates, but that deadline passed with no action, The New York Times reported. On Sept. 13, he revoked that order and issued a brand-new, expanded order that also covers Medicare Part D drugs.
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The brand-new order directs HHS Secretary Alex Azar to begin the procedure of producing model programs needing Medicare to pay the exact same rates for prescription drugs as those in Europe and other industrialized nations. That process could take months and would probably be challenged in court, the Times reported..
Read the full short article here..
The pharmaceutical industry denounced the order. Stephen Ubl, the CEO of the Pharmaceutical Research and Manufacturers of America, the drug industrys biggest trade group, told the Times: “The administration has actually picked to pursue the most favored nation policy– a impracticable and careless policy that will offer foreign federal governments a say in how America offers access to treatments and remedies for senior citizens and individuals battling with terrible diseases. Whats worse is that they are now broadening the policy to include medicines in both Medicare Part B and Part D, an overreach that further threatens Americas development leadership and puts access to medicines for tens of millions of elders at threat.”.
Stephen Ubl, the CEO of the Pharmaceutical Research and Manufacturers of America, the drug markets largest trade group, told the Times: “The administration has actually selected to pursue the most favored country policy– a unworkable and reckless policy that will give foreign federal governments a say in how America supplies access to treatments and treatments for senior citizens and individuals struggling with devastating illness.
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Monday, September 14th, 2020