Friday, October 26, 2018
‘It’s time to end the global freeloading once and for all’
For far too long, the United States has been footing the bill for lower drug prices—in foreign countries. American patients and taxpayers unfairly subsidize worldwide drug innovation while patients overseas get much lower prices from drug makers. Medicare in particular has shouldered an outrageously high burden.Today, President Donald J. Trump is launching actions to confront global freeloading and lower medicine prices for American patients. The heart of the effort is simple: putting forward a new way for Medicare to pay for certain drugs that is based on prices that other developed countries pay.That action alone is projected to reduce Medicare’s payments for these drugs by an incredible 30 percent over the next five years. And a related plan will fix the perverse incentives for doctors to administer more expensive drugs to patients.
Driving down drug costs has been a top priority for this President since day one, and Americans are already seeing results:
- In the 100 days following the release of President Trump’s blueprint for lower drug costs, more than a dozen drug companies reduced their list prices, rolled back planned price increases, or froze their prices for the rest of the year.
- The Food and Drug Administration (FDA) set a new record for generic approvals last year, approving more than 1,000 generics that will bring an estimated $9 billion in savings in 2018.
- Trump signed a law to end unfair gag clauses, which prevented pharmacists from telling patients when they could pay less out of pocket than if they used insurance to cover certain medicines.
Vice President Pence surveys damage in Florida to cover certain medicines.
Vice President Mike Pence and Second Lady Karen Pence traveled to the Florida Panhandle today, meeting with residents and surveying the damage from Hurricane Michael.
In Panama City, the Vice President and Second Lady received a briefing about the storm’s impact on Tyndall Air Force Base. Vice President Pence assured Tyndall’s military families that the base will be rebuilt. In fact, $100 million has already been designated to help with cleanup and recovery at the site.
Before departing, the Vice President and Second Lady also visited Hiland Park Baptist Church and met with military families affected by the storm to assure them they have the full support of President Trump and the Administration.
Photo of the Day
Official White House Photo by Andrea Hanks
First Lady Melania Trump, Secretary of Education Betsy DeVos, and students from Digital Pioneers Academy wave at the camera Tuesday prior to a screening of the motion picture 'Wonder' in the White House Theater | October 23, 2018
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• The article was published of the White House, but did not necessarily reflect the views or positions of my.
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Online replay in of The Capital Saigon .
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