Among the strategies the White House is pursuing to drive competition include advancing biosimilars and generic drugs, including prices on drugmakers' advertising, increasing transparency through the Medicare drug-pricing dashboard and eliminating "gag rules" that prevent pharmacists from advising patients on how they can pay less out of pocket.
- Reconsidering how Medicare pays for some high-priced drugs administered at doctors' offices.
Drugmakers generally can charge as much as the market will bear because the United States government doesn't regulate medicine prices, unlike most other countries.
Trump called his plan the "most sweeping action in history to lower the price of prescription drugs for the American people" in remarks in the White House's Rose Garden.
"America will not be cheated any longer, and especially will not be cheated by foreign countries", Trump said Friday in a Rose Garden address.
Trump announces push to drop drug prices
"We welcome a broad look across the entire drug supply to chain find ways to help drive down drug prices", Nancy LeaMond, an AARP executive, said in the statement.
AHIP argued in a blog post two days ago that, in many cases, drug companies use rebates to encourage patients to ignore the underlying cost of drugs and use more expensive versions of the drugs.
Democrats blasted the speech, saying that Trump is turning his back on his campaign promise to stop the pharmaceutical industry from "getting away with murder". But as president he has shied away from major changes and has staffed his administration with appointees who have deep ties to the industry.
"Real reforms that advocates say will move the needle, none of them are included".
Trump administration officials have hinted for weeks that the plan, in part, will untangle the convoluted system of discounts and rebates between drugmakers and insurers, pharmacy benefit managers and other health care middlemen.
But he also noted what was not in the proposal: "You don't see re-importation of branded drugs, direct negotiation or a ban on rebates within the PBM market, though there are efforts to make them more transparent and improve the integrity of the process", he said.
Give Medicare Part D drug plan issuers more benefits design flexibility.
"It took decades to erect this very complex, interwoven system", Azar said in a briefing following the speech.
Public outrage over drug costs has been growing for years as Americans face pricing pressure from all sides: New medicines for life-threatening diseases often launch with prices exceeding $100,000 per year.
Many researchers say the biggest reason behind the rising spending is high prices for prescription drugs. Our prescription drug pricing system is broken, and a hodgepodge of the regulatory changes the President has in mind will do little to bring down the costs of prescription medicines.
Speaking in Washington on Friday, he said he had directed his top trade negotiator to make the issue a priority in trade talks.
Drugmakers generally can charge as much as the market will bear because the US government doesn't regulate medicine prices, unlike most other countries.
Flammable gas moved from plant near oozing lava
The small, aptly named city of Volcano, Hawaii, inhabitants 2,500, is about Three miles (4.83 kilometers) from the summit. If it does erupt in an explosive way, Kilauea could hurl ash and boulders the size of refrigerators miles into the air.
"It's hard to know why Germany or France or Australia would agree to something like that", said Professor Jack Hoadley of Georgetown University's Health Policy Institute.
"Instead of standing up to the power of the drug companies, who have spent almost $4 billion on lobbying and campaign contributions since 1998, Trump has become a cheerleader for them".
Once it was clear direct negotiation wasn't on the agenda, investors snapped up shares of the biggest US drug makers, including Abbvie (ABBV - Free Report), Amgen (AMGN - Free Report) and Merck (MRK - Free Report), each of which finished the day 2% or more above their mid-speech lows. The annual total was a record for the group.
Some in the pharmaceutical industry are concerned the proposals may end up restricting consumer access to certain treatments.
However, meteorologists say dew point temperatures are low and the model has trended with a wet bias for several days. Otherwise it will be chilly with lows in the 30s Friday morning and highs only in the upper 40s to around 50.
Leroy Sane provided assists for all three City goals. 'I want to thank the fans as well because they've been so supportive. However, since the arrival of Pep Guardiola, Yaya Toure has found himself relegated mostly to the bench.
Congratulations are in order for Australian beauty Miranda Kerr and husband Evan Spiegel , who've just welcomed a baby boy. When Kerr announced her pregnancy a year ago , she didn't actually reveal the gender of her baby.
Chelsea might have a job tempting him away from the French capital if they don't qualify for next season's UEFA Champions League . Asked if he had rested Hazard ahead of Chelsea's FA Cup final with Manchester United , Conte responded: 'No, absolutely not.
Based on what we're seeing, however, Amazon Alexa and Google Assistant are putting Apple's Siri in a serious catch up position. We think that when you look at a story, it is important to highlight the difference between a news story and an opinion.
In his 21 games (11 starts), he played well and became a big part of the rotation with an average of 25.3 minutes a night. Hood, who will be a restricted free agent this summer, has a major financial incentive to perform well this postseason.
And now it's been revealed Meghan Markle is planning to also ditch professional help when she marries Prince Harry in May 2018. It's only nine more days between Meghan and Prince Harry say "I do" - so check out the timeline of their wedding day below.
The Falcon 9 Block 5 rocket , as the latest version is called, carried the Bangabandhu Satellite-1 into orbit. The satellite will provide TV, internet and other telecom services to Bangladesh and the surrounding region.
Ohio State has all kinds of skill-position toys for Haskins to play around with assuming he does win the starting job this summer. Barrett in the 2016 season and likely would have been the backup again in 2017 had Burrow not broken his hand late in camp.
Mac also made an appearance on Ariana's 2015 tour and joined her on the Tonight Show before releasing a 2016 remix of Into You. Explaining why the didn't begin dating sooner, Ariana told the mag, "We weren't ready at all, though, to be together".
This dynamic continued in a big way in this year's Avengers: Infinity War , to heartbreaking effect for both characters. Someone reported it missing Tuesday, but there are now no details about whether the costume was misplaced or stolen.
See Deadpool profusely apologize to David Beckham
However, Jackman is current saying that, while he hears Reynolds, he'll have to play hard to get to convince him to agree. He comes to Beckham's door with milk and cookies to apologize before getting the door slammed in his face.
President Trump tweets 5 key ISIS leaders captured
In December, Iraq declared victory over militants, having retaken all the territory captured by the extremists in 2014 and 2015. Dillon's tweet said the capture was a coordinated operation between Iraqi and the United States backed Syrian Democratic Forces.
Sevilla vs Real Madrid
I can not criticise my players because in the second half they did everything right to turn the tide. The win boosted Sevilla's chances of qualifying for next season's UEFA Europa League.
Roman Polanski threatens to sue Oscars organisers
The " Chinatown " director had been a member of the Academy for almost 50 years, earning his first of five nominations in 1964. Although he wasn't there to receive the award, the audience gave him a standing ovation in his absence.
Explosion in Hawaii volcano could be first of larger blasts
On Tuesday, police went door-to-door to evacuate residents near two new vents emitting risky volcanic gases in Hawaii. The vents emerged on Tuesday near the spots where lava has been pouring into streets and backyards for the past week.
Shire, Takeda Come to Terms on $62B Acquisition Deal
Takeda Pharmaceutical has reached an agreement to acquire Shire after raising its offer for the rare disease drug company. Currently, about a third of Takeda's sales come from the Japanese market, with a similar share represented by USA sales.