Turning Point USA communications director Candace Owens recently interview on Fox News about President Trump’s plan to lower prescription drug prices. She had nothing but good words to say about the President’s plan and agrees the motivation behind the proposal is to help the American people.
“I think it is on point with his message. He is all about American’ first, and for far too long the pharmaceutical industry has been rigged against the American people.” Owens says.
The drug pricing blueprint that was proposed early in May 2018 focuses mainly on increasing competition, creates incentives for lowering prices to drugmakers and slashes current federal rules that are making it hard for private insurers to negotiate for lower prices. The end result is lower pharmacy costs to the American people which was a key promise during Trump’s campaign.
The approach seems to be avoiding a direct confrontation with the powerful pharmaceutical lobby by not including the federal Medicare program the power to directly negotiate prices with drugmakers. Leaving this key component out could underwhelm patients seeking relief from the high cost of prescription drugs.
Overseas Drug Prices
Also included in the official proposal to lowering drug costs is addressing the costs dealing with drugs that are exported. It is very common for drugs produced by American drug companies to be sold at a fraction of the costs overseas compared to the USA. The President wants to crack down on these practices. He wants foreign governments to remove some of the controls they have on imported pharmaceuticals.
Mrs. Owens expressed her agreement on this concept during her interview by saying “We also been taken advantage of overseas via these socialized health care systems which are demanding unfairly low prices from our drugmakers overseas.”
Physicians Thoughts on Lowering Drug Prices
The plan sounds really good to the President and Candace Owens but not everyone else. The American people will not benefit as much as they believe. Lowering of drug prices and creating competition will result in increased patient costs and reduce overall care quality.
No physician wants to see drug price increases for their patients. They worry that this approach will have unintended consequences to some patients, especially those with cancer. Community Oncology Alliance (COA) President Jeffrey Vacirca, MD, says “We must carefully think about and evaluate the impact of changes to our complex health care system and discuss them with patients and practicing physicians, if we are not careful, Washington could set the cancer care system back significantly, harming patients, and increasing costs.”
Pharmaceutical Research and Manufacturers of America (PhRMA) CEO Stephen J. UBL. also released a statement following the release of the President’s plan to lowering drug prices. “These far-reaching proposals could fundamentally change how patients access medicines and realign incentives across the entire prescription drug supply chain,while some of these proposals could help make medicines more affordable for patients, others would disrupt coverage and limit patients’ access to innovative treatments.”