Trump Working on ‘New System’ to Increase Drug Competition
Posted 07 March 2017 | By
President Donald Trump tweeted Tuesday morning that he’s “working on a new system where there will be competition in the Drug Industry,” though how such a system would work alongside the current generic drug and biosimilar competitors, remains to be understood.
On what such a system might entail, a White House spokesman told Focus: "The President has been steadfast in his commitment to reducing the regulatory burden on everyday Americans. As demonstrated through the President’s listening session with pharmaceutical industry leaders, he is committed to making drugs more affordable while promoting innovation, and cutting regulations to encourage drug companies to bring back operations and jobs to the United States."
Trump previously announced a plan to cut 75-80% of the US Food and Drug Administration’s regulations, though how that will lower the cost of US prescription drugs also is unclear. A White House spokesman told Focus that more specifics will be forthcoming.
On Wednesday, Trump will meet with Reps. Elijah Cummings (D-MD) and Peter Welch (D-VT) and Johns Hopkins Hospital president Redonda Miller to discuss drug pricing. Last month, Cummings and Sen. Bernie Sanders (D-VT) took issue with Marathon Pharmaceuticals’ expensive new Duchenne muscular dystrophy treatment.
“The President promised—both during the campaign and after—that he would support efforts to stem the skyrocketing prices of prescription drugs, so I am looking forward to discussing ideas he said he supports,” Cummings said in a statement on Tuesday. “Our hope is that the President will make good on his promise and join us in convincing congressional Republicans to finally start helping American families who rely on these life-saving medications.”