President Trump reinvigorated the drug price policy debate by recently stating that prescription drug prices "are out of control" and, for a second time, that drug companies are "getting away with murder". He's expected to soon announce a bi-partisan drug price task force to examine prescription drug costs. The president's renewed focus on lowering drug costs is a relief from the misaligned priority of healthcare reform, which seems to have overshadowed Americans most pressing healthcare concern: soaring drug costs.
In his most recent remarks, President Trump focused on the fact that prescription drugs are much cheaper in other countries. In fact, it's common for brand-name prescription drug prices to be as much as 90 percent lower in pharmacies outside the U.S., which is why millions of Americans, despite federal restrictions, have had to import medication from Canada and elsewhere. Unfortunately, the law and misleading public information campaigns sponsored by drug companies scare Americans away from more affordable medication. (more…)