renegadebusdallas.com
renegadebusdallas.com May 24, 2018


Trump Assails High Drug Prices, Avoids Direct Hit on Industry

12 May 2018, 11:18 | Clyde Nash

Trump condemns middlemen in drug-pricing speech

Trump unveils prescription drugs plan

President Trump on Friday delivered a long-awaited speech outlining his administration's blueprint for lowering prescription drug prices. Instead he focuses on private competition and more openness to reduce America's prescription pain.

Trump had touted the plan as the "most sweeping action in history to lower the price of prescription drugs".

Some of the administration's longer-term priorities include restricting use of rebates, creating incentives for drugmakers to lower list prices, and investigating tools to address foreign government practices that it said could be harming innovation and driving up us prices.

Almost three-quarters of registered voters said in a recent nationwide poll that they would be more likely to support a congressional candidate this fall who supports bringing down the cost of prescription medications. Overall the Trump administration's plan to lower drug prices doesn't seem to be very damaging at the moment.

The administration will pursue a raft of old and new measures meant to improve competition and transparency in the notoriously complex drug pricing system.

"I haven't seen so far any manufacturers stepping forward to say how much they would lower prices in the USA if the United Kingdom and Germany paid more", said Allan Coukell, senior director of health programs at the Pew Charitable Trusts.

Direct the Food and Drug Administration to evaluate requiring drugmakers to state their list prices in direct-to-consumer advertisements. The plan also calls for streamlining and speeding up the approval process for over-the-counter drugs. It comes after more than a year of promises to tackle pharmacy costs that are squeezing millions of Americans. The US president condemned middlemen i.e. pharmacy benefit managers for their role in high drug prices and dropped popular and populist proposals made during his election campaign. "Trump's few tough words for pharma are a cover-up for the sweetheart deal he really is offering the megacorporations that raise prices on Americans by the day", said Peter Maybarduk, MD, director, Public Citizen's Access to Medicines program. "Trump chose the incremental over the disruptive".

Hawaii's Kilauea Volcano Eruption Destroys More Than 30 Homes
So far no fatalities or major injuries have been reported from the volcano , according to the Hawaii County Civil Defense Agency. With time, the magma will find one pathway, officials explained, and other vents will start closing up as the lava hardens.

Vaidya said drug prices are lower in other countries with government-run health care because they set limits on prices.

Trump has said that drugmakers are "getting away with murder", and has expressed an interest in negotiating drug prices, something the government isn't allowed to do for Medicare and Medicaid. But as president he has shied away from major reforms and staffed his administration with appointees who have deep ties to the industry. They include Health Secretary Alex Azar, a former top executive at Eli Lilly and Co., who joined Trump for Friday's announcement.

Speaking in the White House Rose Garden, Trump said the current system has been corrupted by greedy businesses and middlemen who have made "an absolute fortune" through "dishonest double-dealing" at the expense of USA consumers who need medicine to extend or improve their lives. "Essentially, we are not seeing anything about that speech which should concern investors", Ronny Gal, an analyst at Sanford C. Bernstein said in a video message to investors. "Our patent system will reward innovation but won't be used as a shield to protect unfair monopolists", said Trump. "I don't want to overpromise that somehow by Monday there's going to be a radical change, but there's a deep commitment to structural change". PBMs argue that rebates are the most powerful mechanism to lower drug prices and produce valuable savings.

But others warn there is no guarantee that unraveling the current pricing-setting bureaucracy will lead to lower costs because it all starts with drugmakers' initial prices. That trend, coupled with several high-profile cases where drug manufacturers significantly raised the price for common, decades-old drugs, have thrust the issue into the national spotlight.

By the numbers, the average person in the US pays about $1,000 a year for prescription drugs.

The administration is not expected to act on a key Trump campaign pledge to use the massive buying power of the federal government's Medicare program to directly negotiate lower drug prices for seniors.

President Trump on Friday introduced his blueprint to "bring soaring drug prices back down to earth".



Other News

Trending Now

Nintendo Hiring Level Designer For The Legend Of Zelda Series
Once hired, the level designer will be responsible for designing the layout of the map and dungeons, as well as cutscenes and events.

Swansea City Set To Part Company With Yet Another Manager
The crestfallen Swansea players were in marked contrast to Southampton's jubilant celebrations at the final whistle. This was a man who broke down barriers in terms of prejudice with his grace, poise and skill on the pitch.

Nina Compton, Cure win James Beard Awards
The menu changes daily at chef Frank Stitt's Birmingham restaurant, which is rooted in classic French cooking techniques. Camille Cogswell, pastry chef at Zahav in Old City, was nominated for rising star chef.

Callahan mother, kids died after hitting alligator on I-95
A mother and her two toddlers died in a crash on Monday after their auto smashed into an alligator on a SC highway, police said. Stanley's husband, Josh Stanley, informed CBS47 he was in Pennsylvania for work when his spouse and youngsters died.

Likely Places For Joe Burrow To Transfer To
He had competed with Dwayne Haskins and Tate Martell for the starting job throughout spring practice, which concluded April 14. It's far too early to call anyone a favorite in this process, but it looks as if LSU will be a factor in Burrow's decision.

Facebook bans foreign campaigning in Ireland's abortion referendum
As for who is paying for those ads, said Sheridan, "the only people who know that for certain are Facebook themselves". Ireland doesn't allow political donations from other countries, but its laws don't cover advertising on social media.

GOP Voters Stick With Pro-Trump Candidates in Senate Primaries
Senate race from "leans Democrat" to "toss-up" on Wednesday. "I have no control over [an endorsement] whatsoever", Manchin said . Blankenship is a former coal executive who spent time in prison in 2010 following a mine explosion that killed 29 miners.

McCain urges Senate to reject Haspel's nomination for CIA director
The question came near the end of a almost three-hour hearing from Sen. President Trump is on record saying waterboarding "works".

FCC Says Net Neutrality Rules to Cease on Jun 11
With the prolonged absence of Republican Senator John McCain due to illness, proponents believe they will win on a 50-49 vote. With the support of all Democrats, two independents and one Republican ( Susan Collins of Maine), they might succeed.

China and Japan agree to set up hotline to prevent military clashes
China had also resisted Japan's insistence that the agreement should not cover the territorial waters surrounding the islets, controlled by Japan.