Donald Trump announced Medicaid drug pricing agreements with nine pharmaceutical and biotechnology companies on Monday, speaking in the Oval Office surrounded by company executives. Every drug "will be at the lowest prices available anywhere in the world," Trump said, The Hill reported.
What do the agreements do? Under the deals, which PBS NewsHour reported fall under Trump's "most favored nation" pricing system, the companies will sell their drugs to state Medicaid programs at discounts. The program seeks to have sticker prices for prescription drugs match or fall below what is charged overseas. The nine are Alcon, Astellas Pharma, BeOne Medicines, BridgeBio, CSL, Kyowa Kirin, Sun Pharma, Teva Pharmaceuticals and UCB.
How does it fit his healthcare agenda? The announcement was tied to his efforts to make healthcare more affordable, coming after insurance prices "skyrocketed" when expanded subsidies under the Affordable Care Act expired late last year, The Hill reported. He has made lowering prescription drug costs a key part of his broader healthcare agenda.
What has he told voters about drug prices? Trump has tried to use his efforts on initial prescription drug prices, before insurance-related discounts, to tell voters worried about inflation that he is tackling affordability issues, PBS NewsHour reported. It is unclear how much in savings will actually materialize for consumers, as insurance already pays at a discount, although the administration has cited a figure of more than $500 billion in savings over a decade.
How did he compare it with "Medicare for All"? Asked about Democratic candidates who want to use Medicare to provide universal access to health care, Trump said his approach of confidential drug pricing deals was superior, PBS NewsHour reported. "Well, this is much bigger, much better, much less expensive," he said. "And it's something that works. The other doesn't work." He said universal health insurance provided through the government would cost too much and lead to higher taxes. His own policies, including the expiration of the Affordable Care Act subsidies, could leave fewer people insured and facing higher costs, the broadcaster reported, and Medicaid changes passed into law last year could result in 10 million more uninsured people over a decade under Congressional Budget Office estimates.
Figures referenced: Donald Trump. — JudgeMarket.
