Health Agencies Set Price Targets to Comply With Trump’s Order to Lower Prescription Costs

Contact Your Elected Officials

The Most-Favored-Nation (MFN) pricing model aims to align the cost of brand-name drugs in the U.S. with the lowest prices offered in other wealthy nations.

The Department of Health and Human Services (HHS) and the Centers for Medicare and Medicaid Services (CMS) are setting benchmark targets to lower prescription drug prices for American patients, the agencies announced on May 20.

The announcement comes after President Donald Trump signed an executive order earlier this month to lower the price of prescription drugs for Americans to be more in line with what similarly sized economies pay globally.

Trump’s May 12 order directed HHS to stop what he called “foreign freeriding” and to ensure that Americans no longer pay disproportionately high prices for the same medications.

The Most-Favored-Nation (MFN) pricing model aims to align the cost of brand-name drugs in the United States with the lowest prices offered in other wealthy nations that have similar economic profiles.

“For too long, Americans have been forced to pay exorbitant prices for the same drugs that are sold overseas for far less,” HHS Secretary Robert F. Kennedy Jr. said in a statement. “That ends today. We expect pharmaceutical manufacturers to fulfill their commitment to lower prices for American patients, or we will take action to ensure they do.”

CMS Administrator Dr. Mehmet Oz said the agency is targeting all brand-name drugs that lack generic or biosimilar competition. For each of those medications, manufacturers will be expected to match the lowest price found in any country in the Organisation for Economic Co-operation and Development (OECD) with a GDP per capita of at least 60 percent of that of the United States.

Those countries include major economies such as Germany, France, and Japan. In some cases, U.S. patients pay three to five times more than their counterparts abroad, according to HHS.

The administration said the policy will initially apply to high-cost drugs covered by Medicare Part B. A similar MFN proposal introduced during Trump’s first term in 2020 was projected to save nearly $88 billion over seven years, but it was struck down in federal court. The policy faced four lawsuits and was halted by a nationwide injunction before it could take effect.

By Chase Smith

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

Chambers of Horror

Using a shutdown to legislate is like using a flame thrower to light a candle, it provides light momentarily but destroys everything in its path.

Government Shutdown, Health Care, Tax Breaks=Perfect Storm

The shutdown over cuts to health subsidies for the poor stems from Trump’s OBBB plan, which critics say funneled trillions to the wealthy.

3I/Atlas Comet or UFO Arrives Tomorrow!

The 3I/Atlas object is hurtling toward our solar system on a strange path and composition, set to pass behind the sun, obscuring visual and radio tracking.

‘I’d Be Finished’: Vaccine Researcher Trashes Own Study to Save Career

Most doctors comply with the system, following orders to keep their jobs, income, and prestige, even if it means setting aside independent judgment.

Kamala, Please Run Again

Kamala Harris hinted she wants to run for President in 2028, despite poor poll numbers and her loss in 2024. If she runs, the big winners will be the GOP.

San Jose Proclaims ‘Republic of China Day,’ Honors Taiwanese Community’s Contributions

San Jose declared Oct. 25 “Republic of China Day,” honoring the Taiwanese American community’s cultural and economic contributions to the city.

US Tightens Ban on Chinese Tech Gears

The United States has extended its ban on Chinese electronics to cover products partly made by companies blacklisted on national security grounds.

FDA Says It’s Eliminating Requirements for Generic Versions of Expensive Drugs

The Food and Drug Administration in draft guidance said it will reduce instances where large human trials are required for biosimilars.

Government Shutdown Could Cost US Economy $14 Billion: CBO

The government shutdown could cost the U.S. economy up to $14 billion, a new analysis by the CBO said on Oct. 29.

Trump, Japanese PM Sign Critical Minerals, Rare Earths Deal

The U.S. president visited Tokyo on the second leg...

Trump Hikes Canada’s Tariffs by 10 Percent for Not Pulling Anti-Tariff Ad Immediately

Trump announced he will increase tariffs on Canada by 10% after ad by provincial government of Ontario misrepresented President Reagan’s speech on tariffs.

Trump Rolls Back Emissions Rules on Copper Smelters

President Trump issued a proclamation aimed at reversing a Biden-era environmental rule that enforced stricter air emission standards on copper smelters.

Donor Gives $130 Million to Cover Shortfall in Troop Pay During Shutdown

Trump announced on Oct. 23 that an anonymous donor sent $130M to cover military pay during the ongoing government shutdown.
spot_img

Related Articles

Popular Categories

MAGA Business Central