Drugmakers hope to stall Trump’s ‘preferred nations’ directive by making a counteroffer to the White House. The president’s directive aims to tie US drug prices to those of Europe and other developed nations. Health officials have previously said that tying US drug prices to the international pricing index would save Medicare more than $17 billion over its first five years, and more than $50 billion in its first eight years. “The only thing I have with socialism is I want to get their price,” said Trump at the Republican National Convention on Monday.
The proposal put forth by drugmakers aims to save more than $100 billion over 10 years and would avoid the cumbersome and time-consuming rulemaking process by relying on two voluntary demonstration programs within Medicare. Read more here.