In response to President Donald Trump’s announcement yesterday of an agreement with Pfizer to bring down U.S. drug prices, NCPA said the initiative is a step in the right direction but won’t solve the problem unless the White House and Congress get tough on PBMs and insurance companies.
“The president is absolutely right that American patients and taxpayers should not be subsidizing lower drug prices around the world,” said NCPA CEO B. Douglas Hoey. “He is also right that we need to reduce our reliance on foreign countries that now supply the active ingredients for some of our most critical drugs. However, we don’t want the president or Congress to lose their focus on reforming the health insurance/PBM conglomerates that have created this crisis in the first place.”
The president also announced TrumpRx, which will allow patients to buy drugs online at lower rates negotiated by the government. Hoey said that direct-to-consumer websites don’t solve the hyperinflation of drug costs through the use of rebates, fees, and other PBM deceptive practices.
“Reforming the way PBMs and insurance companies operate is the only solution. There’s a reform package in Congress that has wide bipartisan support. Congress should pass it now. With the president’s signature, Americans will benefit from the lower prescription drug prices they deserve,” Hoey said.
“While there are very few details, TrumpRx appears to bypass the relationship between patients and their local physicians and pharmacists. Direct-to-Patient programs can be dangerous,” he said. “A website can’t counsel patients, recognize other potential health risks, or follow up to make sure patients are taking their medicines at the right time and in the right amount.”
You can read the full news release here.
