Trump Takes on High Drug Prices
Trump has been battling pharmaceutical companies ever since he stepped into office. In 2017, he created an advisory board to look into pharmaceuticals and their extreme drug prices. Its understandable that the US does the most research and development in pharmaceuticals but the prices for many years have been unexplainable. High drug prices prevent many Americans from getting the treatment they need. In many cases such as Insulin, the drug/medicine is required in order to live.
Trump on Friday (7/24) signed an executive order that will allow the importation of drugs from other countries such as Canada. This will hopefully force US pharmaceuticals to lower their extreme prices to international prices set by the free market. This is a firm step towards lower drug prices. Especially during our current pandemic this is a great step to helping lower people’s hospital bills. This is only an executive order so there might be a need for some legislation. It’ll be some time before the results of the executive order are seen. This is one of many steps the Trump administration has taken to help fix the issues with the healthcare system. President Trump is also set to meet with the heads of many pharmaceutical companies on Tuesday to work towards a deal that will help the US companies but lower drug prices as well.
The Pharmaceutical industry is very powerful in the US. They have a lot of influence in the US Government because of their lobbying. Over the years this has led to legislation favoring the industry over the people. The main component being the ability of pharmaceutical companies to overcharge for drugs because they don’t have to compete with international prices. Without competition they have become powerful and corrupt.
Trump during an interview in 2019 talked on how these pharma companies are very powerful.
“We’re lowering the cost of prescription drugs, taking on the pharmaceutical companies. You think that’s easy? It’s not easy. They come at you from all different sides. I wouldn’t be surprised if the hoax didn’t come a little bit from some of the people that we’re taking on. They’re very powerful. They spend a lot of money. Spend, I think, more money than any other group in the world, actually, in terms of lobbying and lobbying abilities. And I wouldn’t be surprised if some of the nonsense that we all have to go through — but that I go through — wouldn’t be surprised if it was from some of these industries like pharmaceuticals that we take on.”President Trump Press Interview. Oct. 2019
This Executive order and many other recent actions Trump has taken such as Operation Legend shows Trump is fighting for the people.