At issue is the international pricing index.
The pharmaceutical industry is pitching a counteroffer to the White House regarding President Trump’s plan to link Medicare’s spending on some expensive drugs to much lower prices they are sold for abroad.
Their proposal, circulated in an internal memo to industry lobbyists, would save Medicare considerably less money than the administration’s original international pricing index plan. While the cost reduction would not be as significant, it would still deliver lower prices on prescription drugs as the president had promised in his 2016 campaign.
Their proposal projects savings over a ten year span of more than $100 billion and would avoid the time-consuming rule making process by relying on voluntary programs within Medicare. This would would allow them to avoid President Trump’s plan to link drug prices to significantly lower costs in other developed nations whose governments directly negotiate prices with drugmakers.
As the Lord Leads, Pray with Us…
- For wisdom for President Trump as he considers the alternate plan for lowering drug prices.
- For the administration as they continue to seek to guard the health and well-being of Americans.
Sources: Politico, Reuters
