Trump to Lower Prescription Drug Prices: Patients Could See 60% Discount
The new decree signed by US President Trump will reduce prescription drug prices in the US. It is expected that this will pave the way for price reductions of up to 60% for patients.
US President Donald Trump signed a new decree ordering the reduction of prescription drug prices.
In a statement regarding the decree, it was mentioned, “The message is clear: the executive branch will no longer stand idly by as drug manufacturers in our country charge higher prices for the same prescription drugs, often produced in the same place, than patients in other countries.” The decree instructs Health and Human Services Secretary Robert Kennedy Jr. to standardize payments for prescription drugs under the Medicare system, including cancer patients, regardless of where the patient receives treatment.
It is expected that this will open the way for price reductions of up to 60% for patients. Additionally, hospitals could save up to 35% on drug costs. The decree also anticipates price reductions for insulin and allergy medications for low-income patients.
ABOVE INFLATION The US Department of Health and Human Services estimates that prescription drug prices have increased by an average of around 15% in recent years, with nearly half of these drugs experiencing price hikes exceeding the inflation rate.
The Trump administration says that the decision will not be affected by the dismissal of approximately 10,000 employees in the health department and the introduction of taxes on imported drugs.
