President Trump recently reiterated the pledge he made before taking office -- that he'd work tirelessly to lower prices of prescription drugs.
President Trump recently reiterated the pledge he made before taking office — that he’d work tirelessly to lower prices of prescription drugs.tweetedHis solution, he said, is for Americans to import drugs from Canada “that are MUCH CHEAPER than what we have now.”
But Republican lawmakers, acting at the behest of drug companies, for years have resisted moves to allow Medicare to bargain with pharmaceutical manufacturers. Similar regulations can be found in Britain, France, Germany, Japan and other developed countries. Such rules are why people in each of these nations spend just a fraction of what Americans spend for prescription drugs., the British spend $469 per person annually on meds, or a little less than a third of what Americans spend.Researchers have found that U.S. patients can pay as much as 16 times what people in other countries pay for some drugs. That’s not a free market. That’s “The Sopranos.
But he also said that “true negotiations based on cost-effectiveness” would prompt drug companies “to develop high-value drugs,” which suggests that innovation wouldn’t necessarily suffer amid fair pricing.
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