President Trump attacks symptom, not disease, in prescription drug price attack

  • The Hill | by: Robert M. Goldberg |
  • 07/10/2018 12:00 AM
N/A by N/A is licensed under N/A N/A
President Trump launched a new broadside against prescription drug manufacturers yesterday, tweeting, "Pfizer & others should be ashamed that they have raised drug prices for no reason. They are merely taking advantage of the poor & others unable to defend themselves."  

While it may be politically popular to blame drug prices for skyrocketing insurance costs, the president's claim doesn't stand up to scrutiny. Most notably, insurers don't pay list prices for the prescription drugs they put in their plan formularies.

They pay a deeply discounted rebate price negotiated by PBMs, which are middlemen between manufacturers and insurers. And these net prices have grown at less than the rate of the Consumer Price Index over recent years on a per capita basis.

Like Trump, health insurance executives also attribute rising health care costs to prescription drug prices. America’s Health Insurance Plans President Marilyn Tavenner and American Hospital Association President Rick Pollack wrote in an op-ed for The Hill: “Unjustified and unaccountable spikes in prescription drug prices are the engine of higher costs.”
 
 
 
 
Article Photo Credit: N/A by N/A is licensed under N/A N/A
Sign Up for Our Email Newsletter

RECENT NEWS

Biosimilar Strength vs. Potency: Avoiding a Regulatory Hobson’s Choice

Biosimilar Strength vs. Potency: Avoiding a Regulatory Hobson’s Choice

Biosimilars bring lower costs and greater access to the market for biological products, but FDA must determine a predicta...  Read more

FDA  Authorizes Pfizer Covid-19 Vaccine Booster for Ages 12-15
  • NEWSY
  • 01/04/2022 12:00 AM

FDA Authorizes Pfizer Covid-19 Vaccine Booster for Ages 12-15

CMPI's Peter Pitts discusses FDA approval of Pfizer COVID vaccine booster for children ages 12-15...  Read more

Should We Rethink The FDA Commissionership?

Should We Rethink The FDA Commissionership?

When one considers the FDA’s mission—to independently protect consumers and advance the public health—it is not at all cl...  Read more

DRUGWONKS BLOG