Trump signs series of executive orders aimed at lowering drug costs

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The first order targets high insulin prices, requiring federal community health centers to pass discounts they receive on the drug and EpiPens directly to patients. Trump said those providers shouldn’t receive those discounts while charging their patients “massive, full prices.”

The second order would allow states, pharmacies and wholesalers to import drugs from Canada where they typically cost less than in the U.S. In most circumstances, it is illegal to import medications from other countries for personal use, according to the Food and Drug Administration.

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The third order is aimed at preventing “middlemen” or pharmacy benefit managers from pocketing “gigantic discounts,” Trump said. Industry trade group PhRMA has argued that drug price hikes over the years have been modest and have cited concerns with the nation’s rebate system.

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The fourth order, which Trump said he may not need to implement, would allow Medicare to purchase drugs at the same price other countries pay. The order would specifically allow Medicare to implement a so-called “international pricing index” to bring drug prices in line with what other nations pay.

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https://www.cnbc.com/2020/07/24/trump-announces-series-of-executive-orders-aimed-at-lowering-drug-costs.html