As Pharma Returns To Status Quo On Drug Prices, Trump Meets With Top Advisers To Discuss Frustrations
“The president’s been really clear — prices of drugs need to be coming down, not going up,” said HHS Secretary Alex Azar, who was reportedly a part of the meeting. Meanwhile, Democrats on Capitol Hill are looking to score some early wins with small drug pricing legislation.
Trump Summons Advisers To White House Over Drug Price Hikes
President Donald Trump has summoned top officials for a White House meeting on drug prices, frustrated over a new round of price hikes after Trump promised to lower pharmaceutical costs, two individuals with knowledge told POLITICO. Health and Human Services Secretary Alex Azar, Council of Economic Advisers Chairman Kevin Hassett and acting White House chief of staff Mick Mulvaney are among officials set to meet with the president Tuesday, one individual said. (Diamond, Cancryn and Owermohle, 1/8)
Allergan CEO: We Stuck To Spirit Of Our Social Contract With Recent Price Hikes
Earlier this month, numerous drug makers began raising prices after taking a hiatus last summer under political pressure from President Trump. Even so, the vast majority of recent price hikes were low single-digit increases, although there were a couple of notable exceptions. One was Allergan (AGN), whose chief executive, Brent Saunders, famously declared in September 2016 that his company would keep a “social contract” by ensuring price hikes — after paying rebates and discounts — would remain below double digits and not exceed inflation. (Silverman and Herper, 1/8)
Democrats Seek Early Victories On Drug Prices
Newly empowered House Democrats plan to move first on smaller, bipartisan legislation to lower drug prices, hoping to notch some early victories before moving on to more sweeping measures. Democrats have targeted a number of measures that are smaller in scope but have support from some Senate Republicans, according to Democratic sources. They hope taking a strategic approach and passing those measures will build momentum as they prepare to tackle more controversial proposals further down the road, like allowing Medicare to negotiate drug prices. (Sullivan, 1/9)