"President Donald Trump announced that Americans would see lower prescription drug prices after his administration reached deals with nine top drug manufacturers on Friday. Trump was joined at the White House Friday by the leaders of nine of the world's largest pharmaceutical manufacturersto announce that they have agreed to offer many of their flagship drugsat heavily discounted most favored nation's prices. Some of the drugs mentioned include those for diabetes, asthma, and blood thinning."
"In other words, whatever the drug sells for over the world, in the world, whatever the lowest number is, if it is Germany, if it is U.K., anywhere, we will match that price. Right now, sometimes it is 10 times higher. We have been laughed at and scoffed at for years. Trump said the pharmaceutical companies were difficult but knew their pricing was unfair."
Deals with nine top manufacturers will make many flagship drugs available at most-favored-nation prices, matching the lowest global price for each drug. The list includes medications for diabetes, asthma, blood thinning, and previously included weight-loss drugs such as Ozempic. Matching the lowest foreign price could cut U.S. prices that are sometimes up to ten times higher. Some companies received three-year reprieves from threatened tariffs in exchange for the agreements. The approach aims to reduce overall healthcare spending by lowering drug costs and shifting more payment directly to individuals rather than insurance intermediaries.
Read at www.mediaite.com
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