OdishaPlus Bureau
US President Donald Trumph on Friday signed four executive orders that aim to lower drug prices. The orders signed by Trump are intended to give permission to states in developing plans to import cheaper drugs from Canada, eliminate a system of drug discounts (rebates) to simplify the system and seek to make epinephrine and insulin more affordable for some patients.
Trumph also announced an order seeking to slash the price that Medicare pays for drugs to be in accordance with the prices paid in other countries. However, the order’s implementation would be from August 25.
The first order targets high insulin prices, requiring federal community health centres to pass discounts they receive on the drug and EpiPens directly to patients. The second order would allow states, pharmacies and wholesalers to import drugs from Canada where they are less expensive than in the U.S. The third order is aimed at preventing middlemen (pharmacy benefit managers) from pocketing gigantic discounts. The fourth order would allow Medicare to purchase drugs at the same price other countries pay.
At an event in the White House, Trumph said, “the orders will lead to a massive reduction in drug costs.” He will be meeting drug company executives at the White House on July 28 to discuss more on the matter.
