President Trump slammed ‘Big Pharma’ for misleading ads countering the fact that he is lowering prescription drug prices after top executives refused to attend a White House meeting.
“Big Pharma is taking television ads trying to make the case that I am raising prescription drug prices on seniors,” he tweeted. “The ad is a lie!”
“The only reason they are going all out is the massive PRICE REDUCTIONS you are getting – not good for them,” Trump continued.
This comes after executives refused a meeting to discuss executive orders signed by the President on Friday which are designed to lower prescription drug costs.
One of Trump’s executive orders would require Big Pharma to purchase drugs at the same price as other countries that incur vastly lower prices.
“We will determine what other medically advanced nations pay for the most expensive drugs, and instead of paying the highest price, Medicare will pay the lowest price and so will lots of other U.S. buyers,” he said at a ceremony celebrating the move.
The President explained at the time of signing the executive orders that drug companies would have a month to present him with a better option.
“We may not need to implement the fourth executive order, a very tough order,” Trump said.
Politico reports that executives for these drugmakers instead had a veritable temper tantrum and “refused to send any members” to the White House to discuss the matter.
Lowering prescription drug prices has been a focus of the Trump administration for years now.
A report released in February by the White House Council of Economic Advisors (CEA) showed that prescription drug prices have fallen by over 11 percent under this President.
“The Trump administration has set records for approvals of low-cost generic drugs, saving patients $26 billion in just the first year and a half of the president’s term,” writes Alex Azar, Secretary of Health and Human Services, in an op-ed for the New York Post.
Meanwhile, Congress has been unable to work out a deal to lower the cost of medications.
As the President acts for the American people, lawmakers dither and drug companies stomp their feet.
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