President Trump Addresses Need for More Competition, Lower Drug Costs

President Trump today called for "tougher negotiation, more competition, and much lower prices at the pharmacy counter," in a statement on lowering drug prices.

The statement, which was as recently as last week the subject of a panel discussion at Asembia 2018, focused largely on bringing "drug prices under control." President Trump pointed to the reformation of the Drug Discount Program for safety net hospitals as one step in that direction. The administration has also acted to remove barriers to generic drug development and market entry in an effort to spur competition, he said.

The President also noted he has directed officials to take actions to end what he termed "global freeloading," which he explained as lowered prices on drugs in other countries compared with the United States, where much of the investment funds for medical research originate.

Of note, the President's plan also bans the Pharmacist Gag Rule, which punishes pharmacists for telling patients how to save money.

In a statement from FDA Commissioner Scott Gottlieb, MD, it was noted that the FDA is "prioritizing actions to encourage the timely development and approval of generics and biosimilars."

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