Home » World

Trump assails drugmakers for high prices

12 May, 2018, 20:41 | Author: Kristen Ingram
  • Trump Drug Speech Will Propose More Competition to Lower Costs

"We need to bring the tools available to the private sector to Part D plans so they can negotiate better deals".

"When foreign governments extort unreasonably low prices from U.S. drug makers, Americans have to pay more to subsidize the enormous cost of research and development", Trump said.

"It's unfair, it's ridiculous and it's not going to happen any longer", Trump said Friday in the Rose Garden. The American people deserve a health care system that takes care of them, not one that taxes and takes advantage of our patients, and our consumers, and our citizens. Site neutrality rules could also eliminate differences in inpatient and outpatient Medicare payment policies for drugs.

Speeding up approvals of over-the-counter drugs "so that patients can get more medicines without prescriptions". "Instead, all we are getting is more broken promises and cheap talk while drug prices continue to skyrocket". The industry has touted the slower growth as it weathers public backlash.

Pharmacy benefit managers are getting compensated by both drug makers and insurers. 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.

Biotechnology Innovation Organization President and CEO Jim Greenwood said that his group - a representative of companies that have some of the most to lose from deep systemic reform - looked forward to working with the administration, though harbored "concerns that some of the ideas proposed today could, if adopted, hurt patient access to the medicines" and the development of future cures and treatments. "They won't be so rich anymore".

Health and Human Services Secretary Alex Azar previewed some of the administration's priorities in a speech before the American Hospital Association on Wednesday, saying the agency is focused on several problems in the drug industry.

- A potential requirement for drugmakers to disclose the cost of their medicines in television advertisements.

The result, in part, is the highest drug prices in the world. The U.S.is the only country, other than New Zealand, that allows drug companies to advertise directly to consumers.

Last fall, a major report by the National Academy of Sciences recommended a slate of aggressive steps, including government intervention to negotiate lower prices for American patients, limits on prescription drug advertising and new efforts to determine the "value" of drugs by assessing how well they work relative to how much they cost.

David Hyman, a professor at the Georgetown Law Center, called the HHS document "an extensive and impressive list", suggesting that the administration is taking the issue of high drugs prices "very seriously".

"CVS Health also provides patients with information on what they will pay out-of-pocket under their insurance plan for their prescription drugs and can also provide therapeutic alternatives that may be less expensive".

But America's Health Insurance Plans expressed concern about the proposal to pass manufacturer rebates to consumers. Americans are seeking relief from ever-rising prescription costs.

"Let's be really clear, the administration has put out a number of different sets of proposals under the heading of: Things that would address drug pricing". "Physicians see the impact of skyrocketing prices every day as patients are often unable to afford the most medically appropriate medications - even those that have effectively controlled their medical condition for years". Chuck Schumer of NY, the Democratic leader, said after the speech.

During his presidential campaign, Trump called for the government to use its clout to negotiate Medicare drug prices, but senior administration officials said he would not call for that change - which is stridently opposed by drug companies. Some states negotiate supplemental discounts for certain drugs.

Medicare spends more than $100 billion on drugs through the Part B outpatient and Part D drug programs. But the president has offered nothing but "radio silence" since then, Cummings said Thursday.

The strategy will be outlined in a speech Friday.

Trump did call for improving Medicare's negotiating powers.

"CVS Health is already well positioned to implement numerous key proposals outlined by the Administration".

The plan also would give private health insurers that run Medicare plans more negotiating power with drugmakers.

But top Senate Democrat Chuck Schumer said it was "the height of absurdity" for Trump to blame foreign countries for exorbitant U.S. prices.


  • 'I think it's time to wrap it up'

    'I think it's time to wrap it up'

    Pence added: "I would very respectfully encourage the special counsel and his team to bring their work to completion". A leading Trump critic's busy Thursday morning of tweeting included a direct shot at Vice President Mike Pence .
    Raptors' Dwane Casey voted National Basketball Association  coach of the year

    Raptors' Dwane Casey voted National Basketball Association coach of the year

    If recent history is any indicator, Casey's comments offer little reassurance regarding his future in Toronto. Ujiri said he thought the first game against the Cavaliers was the turning point in the series.

    "Sea of water" from Kenya dam burst kills at least 32

    After a severe drought, weeks of torrential rains in Kenya have led to flooding and mudslides that have left 159 dead. Heavy rainfall and floods have hit East Africa in recent months with Kenya and Rwanda among the worst hit.
  • Google Lens Can Identify Everything In Your Room

    Google Lens Can Identify Everything In Your Room

    Google Assistant is now available on 500 million devices globally, Scott Huffman, vice president of Google Assistant revealed. You'll handle this task (and most others, really) on what looks like an Android tablet grafted onto the car's center console.
    Sears shares soar on tire-service deal with Amazon

    Sears shares soar on tire-service deal with Amazon

    This means that customers can buy tires on Amazon and have them shipped to their local Sears Auto Center for installation. The client then gives 3 appointment times which can be convenient for the installment.
    Bill Gates Wants to Short Bitcoin, Tyler Winklevoss Calls His Bluff

    Bill Gates Wants to Short Bitcoin, Tyler Winklevoss Calls His Bluff

    Buffett, who is the CEO of Berkshire Hathaway , has historically been a harsh critic on the cryptocurrency. By design, Bitcoin price and other cryptocurrencies like it are very hard to anticipate in terms of value.
  • CAIT might approach CCI over Walmart-Flipkart deal

    CAIT might approach CCI over Walmart-Flipkart deal

    Gunderson Dettmer LLP, Khaitan & Co., Allen & Gledhill LLP and Dentons Rodyk & Davidson LLP provided legal counsel to Flipkart . Sources say that Sachin does not agree with Walmart's proposed strategy and operating structure after the deal is over.
    Nestle to pay $7.15 billion to Starbucks to jump-start coffee business

    Nestle to pay $7.15 billion to Starbucks to jump-start coffee business

    Nestle also has joint ventures with General Mills for cereal, Lactalis for dairy products and R&R for ice cream. This alliance highlights Nestle's struggles to seize more java drinkers in the United States.
    Rumour - The next iPhone will feature three camera lenses

    Rumour - The next iPhone will feature three camera lenses

    However, with the iPhone 8 Plus, the iPhone X camera , the company has given the software tweaks to get many portrait effects. According to rumors, the third lens would enable 3x optical zoom, which is another first for the company.
  • WestJet adding nonstop flights to Vegas during Jets playoff run

    WestJet adding nonstop flights to Vegas during Jets playoff run

    Winnipeg regained home-ice advantage for the best-of-seven series due to their overall second-place finish with 114 points. How about Florida's GM completely underestimated his own roster and actively gave up two good young players for nothing.
    Bank of England keeps interest rates on hold on first-quarter slump

    Bank of England keeps interest rates on hold on first-quarter slump

    The Bank of England has kept interest rates on hold at 0.5% and cut its growth forecast for this year. The UK economy experienced its worst quarter in five years.
    Chris Paul Makes Conference Finals for the First Time

    Chris Paul Makes Conference Finals for the First Time

    In the post-game conference Tuesday night, Rockets point guard Chris Paul talked about his long-time relationship with PJ Tucker. On one side, you have three Warriors All-Stars who are now four years into this dominating run with Curry, Thompson and Green.


Man dies following Verulam mosque attack
Paramedics or doctors who can assist can report to the scene, ' RUSA said in an statement released today. About 1.5 percent of the country's population is Muslim.

Giuliani On Cohen's Biz Pitches: Trump 'Wasn't Aware Of That Situation'
Jimenez also met the president after he took office at a January 31, 2017 meeting in the White House. The Trump Administration is not exactly a complex organization.

What I learned from dealing with my granny's Alzheimer's diagnosis
The actress has been taking medication to manage the degenerative disease, but her symptoms have grown worse in recent weeks. Whenever they went out, the public were like moths to a flame with Barbara and she loves them.

SpaceX's New Falcon 9 Rocket Block 5 Debuts Today
The "older" version of the Falcon 9 that have flown recently were Block 3 or 4 designs and for "full thrust" operation. This launch is a series of firsts, with the Bangabandhu 1 also being Bangladesh's first communications satellite .

Royal Wedding Guests: Who's invited to Prince Harry, Meghan Markle's big day?
Britain's Prince Harry and his fiancee Meghan Markle on display as wax figures at Madame Tussauds in London , May 9, 2018. Ragland is African-American; Markle's father, Thomas Markle Sr., from whom Ragland is divorced, is white.

Netanyahu - Iran crossed 'red line,' Israel's action appropriate
The text of the statement delivered by the representative of the Syrian command, published by the state news Agency SANA . Russian Federation said 28 Israeli F-15 and F-16 planes took part in the raids with a total of around 70 missiles fired.

Delta 'flight from hell' evacuated after smoke in cabin
Delta spokesman Michael Thomas says some passengers might have suffered minor injuries, including from smoke inhalation. The plane's 153 passengers disembarked via emergency exits located on the wing and emergency slides.

Saudi Arabia Wants Nuclear Weapon If Iran Acquires One, Minister Says
He added: 'Iran's oil and gas industry has been much more experienced in the last 4 years and it considers different mechanisms. Yet, even in the case that Saudi Arabia keeps to its schedule, the USA nuclear industry could still play an important role.

Israel says Iranian forces fired 20 rockets from Syria
The senior military official added that the Israeli strikes successfully set back the Iranian forces "by many months". Oil jumps to a fresh three and a half year high as tensions in the Middle East continue to rise.

Amazon Alexa Can Now Be Your Default Assistant on Android
Expounding into an Echo, Saunders appended an item into her shopping list through Alexa , and then asked Alexa to open Cortana . In short, it would seem that Alexa is going to handle "personal" stuff while Cortana's going to handle all the "business".