STAT+: Trump administration lays out more details of plan to lower drug prices
Plenty of questions remain about Trump's plan to push U.S. drug prices down closer to those in other countries.
The Trump administration shared on Tuesday the outlines of how it plans to push pharmaceutical companies to lower their U.S. drug prices to bring them more in line with other nations, kicking off high-stakes negotiations with the companies.
The Department of Health and Human Services will aim to negotiate drug prices down to the lowest prices paid by peer nations — or countries that are part of the Organization for Economic Cooperation and Development that have at least 60% of the gross domestic product per capita of the U.S., HHS said in a statement. The pricing target applies to brand-name drugs that don’t face competition from generics or biosimilars.
“We expect pharmaceutical manufacturers to fulfill their commitment to lower prices for American patients, or we will take action to ensure they do,” HHS Secretary Robert F. Kennedy Jr. said in the statement.
