Trump unveils plan to cut drug prices image

The Lancet, June 2, 2018, vol. 391, no. 10136
Susan Jaffe, quoting Rachel Sachs (Academic Fellow Alumna)

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From the article:

A trade association that represents PBMs disagrees. Eliminating rebates would leave patients and insurers “at the mercy of drug manufacturer pricing strategies”, according to a statement from the Pharmaceutical Care Management Association. “Simply put, the easiest way to lower costs would be for drug companies to lower their prices.”

But so far, drug makers have escaped much of the Trump administration's tough talk.

“Companies were worried about the potential impact of the speech and then realised it won't have much of an impact on their bottom line”, said Rachel Sachs, an associate professor of law at the Washington University School of Law in St Louis who studies the interaction of intellectual property law, food and drug regulation, and health law. In response to the blueprint, biotech and pharmaceutical stocks went up, she noted.

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fda health care finance health care reform health law policy pharmaceuticals rachel sachs