During a meeting, President Trump suggested to Novo Nordisk’s CEO that the company give the government a stake, a request that was ignored. This followed Trump’s history of the government taking ownership in other companies. The president’s push for a stake was almost overshadowed by a patient collapsing during the press conference, which was meant to be centered around Trump’s promise to lower drug prices. This promise, along with potential government ownership, would create further pressure on Trump, although his economic policies might hinder efforts to reduce prescription costs.
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During a program unveiling to reduce the cost of IVF treatments, President Trump claimed to have delivered significant discounts on medication prices, even stating reductions of “500, 600, 800%” and higher. This assertion was quickly met with criticism as it is mathematically impossible, with critics pointing out that such percentages would effectively mean being paid to take the medication. Despite the illogical nature of the claim, the president has made similar statements in the past. While a related plan involving Merck drugs promises price drops of 84%, critics found Trump’s repeated claims to be a demonstration of poor math skills.
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President Trump unveiled a comprehensive plan to lower drug costs, including a “TrumpRx” website for discounted medication purchases and an agreement with Pfizer. Pfizer has agreed to offer “Most Favored Nation” pricing in Medicaid, alongside significant price reductions for certain drugs via the new website. The administration also aims to have drug manufacturers sell directly to consumers, but industry experts remain skeptical about the impact. Critics worry these measures could shift prices internationally, raising prices elsewhere while potentially providing limited savings for consumers.
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In response to pressure from the Trump administration, Eli Lilly & Co. has increased prices for its diabetes and anti-obesity drugs, including Mounjaro, in Canada and the UK. The company is aligning prices in these markets to offset potential lower revenue in the United States, where the administration aims to reduce drug costs. Consequently, the wholesale price of Mounjaro has more than doubled in Canada, with the Kwikpen format now costing up to $773 per dose depending on the dosage, which has raised concerns about accessibility. Although Lilly supports the administration’s goal of maintaining the US as a leader in biopharmaceutical research, the company does not support tariffs, which could raise costs and limit patient access.
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During a recent appearance, President Trump claimed his administration had lowered drug prices by an impossible 1200-1500 percent. This statement, which was met with widespread ridicule, follows Trump’s pattern of citing unrealistic figures on various topics. This claim also occurred just days after the firing of a top government statistics official due to job growth data. The president has been previously criticized for making similar inaccurate statements regarding inflation and poll numbers.
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High U.S. drug prices stem from its unique healthcare system compared to other high-income nations with universal coverage. Trump’s previous “Most Favored Nation” policy, aimed at reducing Medicare drug costs, failed due to legal challenges. His latest executive order mandates negotiations with drugmakers, threatening to tie U.S. prices to those of other countries if agreements aren’t reached within 30 days. Currently, however, no price changes have resulted.
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Trump’s recent executive order calling for broad drug price cuts has sparked a flurry of reactions, ranging from cautious optimism to outright skepticism. The order promises to give drugmakers price targets within the next thirty days, threatening further action if “significant progress” isn’t made within six months. This sounds decisive, yet history suggests a pattern of similar pronouncements followed by inaction.
The timing of this executive order is particularly intriguing. It comes on the heels of the removal of a Biden-era policy that capped insulin prices at $30, a move that effectively raised prices for many patients. Now, the same administration is presenting this new initiative as a solution, creating a sense of déjà vu for those who remember similar, ultimately fruitless, attempts during Trump’s first term.… Continue reading
As someone who works in the healthcare industry, specifically in the realm of pharmaceuticals, the recent announcement by Medicare regarding the lowered prices on 10 common, high-cost drugs is monumental. The impact of these price reductions cannot be understated, particularly for older individuals who rely on these medications to manage various health conditions.
One of the most significant changes is the cost reduction for direct acting oral anticoagulants (DOACs) such as apixaban and rivaroxaban, essential for post-hospital care. The cost decrease of 55% and 60% respectively is a game-changer for patients who have had to resort to less optimal options like warfarin due to high prices.… Continue reading
John Q. Hosedrinker 
Matt Underwood