Posted by Michael Wonder on 28 Oct 2018
Drug lobby compares Trump drug price plan to ‘socialised’ system
26 October 2018 - The lobbying groups for U.S. drugmakers aren’t happy about President Donald Trump’s plan to borrow from Europe’s system of paying for some high-cost drugs.
On Thursday, Trump proposed cutting what Medicare pays for many costly drugs that are administered in hospitals and clinics, using a new index of prices that would bring U.S. government payments closer to what European countries pay.
“The administration is imposing foreign price controls from countries with socialised health care systems that deny their citizens access and discourage innovation,” said Steve Ubl, chief executive officer of the Pharmaceutical Research and Manufacturers of America, which represents drugmakers. The Biotechnology Innovation Organization, or BIO, said the administration would be “adopting foreign price controls.”
