Impact of Executive Orders on Drug Pricing Is Questioned
On July 24, President Donald Trump signed four executive orders aimed at lowering what Americans pay for prescription drugs. Industry experts questioned how much of an impact two of the orders — one on low price insulin and one on drug importation — ultimately would have. And the other two — a most-favored nation order, presumably impacting Medicare Part B only, and an end to rebates within Medicare Part D — have received pushback from the pharma and PBM industries, respectively. Some industry sources have speculated that the orders are targeted to show Americans less than 100 days before the next presidential election that the administration is following up on the promise to make drugs affordable.
“The four orders that 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,” declared Trump while unveiling the orders.