White House pre-election demand torpedoes deal to lower drug prices

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After working out for months, the White House and the pharmaceutical markets collaborative plan to lower drug rates has broken down, according to The New York Times.

” We might not accept the administrations strategy to provide one-time cost savings cards right before a presidential election,” Priscilla VanderVeer, vice president of public affairs for PhRMA, the pharmaceutical industrys biggest trade group, told The New York Times. “One-time savings cards will neither supply long lasting aid, nor advance the fundamental reforms required to help elders much better afford their medicines.”.

In late August, drumakers agreed to invest $150 billion to support patients out-of-pocket drug expenses and pay the bulk of copays for Medicares prescription drug program.

This agreement fell apart when President Donald Trumps chief of personnel, Mark Meadows, told drugmakers they needed to spend for $100 cash cards that would be provided to older Americans prior to the November election, The New York Times reported..

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The money cards, which would be used to provide older clients with one-time savings for their prescription medications, were declined by the pharmaceutical market, as drugmakers saw them to be ad hoc solutions sustained by politics.

Katie Adams –
Monday, September 21st, 2020