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Donald Trump said he wanted to “completely restructure the prescription drug market”
President Donald Trump has signed four executive orders aimed at reducing the prices of prescription drugs in the United States.
“The four orders I am signing today will completely restructure the prescription drug market,” said Trump, who has long criticized “astronomical” prices.
The measures would allow for discounts and cheaper imports of drugs from abroad.
Trump will meet with the pharmaceutical chiefs on Tuesday, but some industry analysts have criticized the measure, saying it would not have much effect.
“This administration has decided to follow a radical and dangerous policy to establish prices based on the rates paid in the countries that he [President Trump] has been labeled a socialist, which will harm patients today and in the future, “Pharmaceutical Research and Manufacturers of America said in a statement.
He said Trump’s move was “a reckless distraction impeding our ability to respond to the current [coronavirus] pandemic – and what we might face in the future. “
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The President Trump administration has come under fire for its response to worsening Covid-19 crises, as the number of confirmed virus-related deaths in the United States has now exceeded 145,000.
Since taking office, Trump has made repeated attacks on drug price setters and has vowed to take radical steps to reduce them.
But with the presidential election just several months away, industry insiders have expressed doubts that any major decisions can go into effect before the November 3 vote.
They also say that the White House has limited power to implement drug pricing policies.
Executive orders do not have automatic legal force and can also be challenged in court.
According to a 2019 report by the OECD group of industrialized nations, the United States spends roughly double the average amount spent by other member countries on pharmaceuticals per person.
For example, where the United Kingdom paid £ 398 ($ 497) per person in 2015, the United States paid $ 1,162.
This despite having similar levels of prescription drug use.
