President Donald Trump signed an executive order Monday to slash drug prices by reviving Most Favored Nation drug pricing. In a statement, NCPA CEO Douglas Hoey said, “We need to get more details on the president’s executive order as this will take time to sort out due to the complicated nature of drug pricing in this country. However, we applaud any efforts to rein in pharmacy benefit manager practices that increase drug costs. We urge President Trump to continue to focus on PBM middlemen and the way they artificially inflate the price of prescription drugs to pad their pockets.”
"In fact, it is not a coincidence that the United States pays more for drugs than any other country, and we are the only country in the world in which PBMs are hired to control drug prices. We believe those two facts are directly related," Hoey said. "The president correctly pointed out that PBMs are the only link in the supply chain that produces nothing of value for patients. They don't research, develop, or manufacture life-saving drugs. They don't diagnose, treat, or counsel patients. They aren't an access point for life-saving drugs and related health care needs that are embedded in their local communities."
You can read our full statement here.
