Report: Pres. Trump To Give Speech On Reducing RX Drug Prices On May 11th - FbiCables Network | The News that Shapes World Opinion

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Sunday, May 06, 2018

Report: Pres. Trump To Give Speech On Reducing RX Drug Prices On May 11th

President Trump is expected to call out pharmaceutical companies for overpriced drugs during a speech next week.
President Donald Trump departs the White House en route to Cleveland to tout the Republican tax cuts just ahead of Tuesday’s Ohio’s primary election in Washington, Saturday, May 5, 2018. (AP Photo/J. Scott Applewhite)
Lobbyists told the Washington Examiner Friday, the President will outline several policies combating the high price of drugs.
The White House has already proposed several changes, aimed at lowering out of pocket costs for generic prescriptions.
Officials have criticized the current system used by insurers and drug makers to negotiate rebates, which are shielded from violating kickback laws.
The FDA head said on Thursday, the administration is looking to change those rules to promote generic drugs, increase competition, and lower prices for consumers.
“Our goal is to allow developers to efficiently incorporate the latest advances in technology while focusing FDA’s review on safety and review of the high risk medical device functions that treat and diagnose patients, we believe this approach will promote more innovation in this important field.” Scott Gotlieb, Food and Drug Administration Commissioner
The speech was scheduled for April 26th, but was postponed after Health and Human Services Secretary Alex Azar was hospitalized with a stomach infection.
The new speech is now scheduled for May 11th.

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