President Trump signs series of executive orders intended to lower drug prices

News

WASHINGTON (NEXSTAR) — President Donald Trump announced several executive orders related to health care and drug prices Friday afternoon.

At a White House ceremony, Trump signed several executive orders.

The orders are designed to bring drug prices in the U.S. down to be on par with their costs overseas.

The first order would make it a requirement for medical facilities to pass along discounts they receive on insulin and EpiPens to patients.

The second order involves importation. This would make it possible for the importation of prescription drugs from Canada and other countries.

The third order aims to eliminate the “middle man” in prescription drug sales.

Finally, the fourth order would make Medicare drug prices in line with prices overseas.

This order was not signed on Friday. According to President Trump, it will not be signed until the end of August. He stated this would give the country’s largest companies time to come up with alternative solutions.

“The four orders I’m signing today will completely restructure the prescription drug market in terms of pricing and everything else to make these medications affordable and accessible for all Americans,” President Trump noted.

The Trump administration has had ongoing efforts to reduce drug prices.

A drive to pass major legislation this year stalled in Congress. Although Trump told Republican senators that lowering prescription prices is “something you have to do,” many remain reluctant to use federal authority to force drug makers to charge less.

Last year the House passed Speaker Nancy Pelosi’s Medicare negotiations bill, which would have capped out-of-pocket drug costs for older people and expanded program benefits as well. It had no path forward in the Senate, and the White House calls it unworkable.

Consumers may not notice many immediate changes from the new orders, which must be carried out by the federal bureaucracy and could face court challenges.

The Associated Press contributed to the article.

Copyright 2020 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Trending Stories

Don't Miss