President Donald Trump had big plans for Tuesday but unfortunately they are off. From Politico:
A White House meeting with top pharmaceutical executives that President Donald Trump promised for Tuesday is off, five industry sources familiar with discussions told POLITICO. Three said the drug-pricing discussion was canceled because the major drug lobbies, reeling from Friday’s cluster of executive orders on the topic, refused to send any members.
Drugmakers and Trump were slated to discuss an executive order, signed Friday but not yet released, that would order health officials to release a plan linking Medicare payments for certain medicines to lower costs paid abroad.
“The four orders I’m signing today will completely restructure the prescription drug market,” Trump announced late last week. “It takes a long time from a legal standpoint … we’ve got it all worked out.” Though some are obviously not on board with his plan.
“The drug EOs are a way to give the appearance of movement on Trump’s pricing agenda without actually doing anything,” Capital Alpha Partners’ Rob Smith wrote in a note, adding that the original favored nations rule has languished with budget officials for more than a year. “A more impactful step would be to issue this actual proposed rule and begin the process of finalizing it rather than holding what amounts to a glorified press conference.”
Maria Town of the American Association of People with Disabilities claimed this could slow or lessen incentives to develop new therapies. “Right now the White House and Trump [are] trying to cut costs in Medicare and doing it at the cost of us,
An industry source stated, “There are discussions taking place to determine the best way to work with the administration on this issue over the coming weeks.” While a White House official said, “The White House has been more than accommodating in attempts to schedule this meeting.”
Can they ultimately find a way to make this work?