Trump’s Prescription Drugs Policy Has Worked
Let’s bank the win rather than let Big Pharma bankroll a win for themselves.
Heading into this year’s midterms, Republicans are jittery. There is particular concern that Democrats could hold over our collective heads the failure to extend pandemic-era Obamacare subsidies, blaming the GOP for healthcare “affordability” problems.
But set aside that Democrats have done precious little to rein in wasteful spending by big hospitals on things like hotel and pizza parlor acquisitions, and even ventures in Antarctica—which we all have to foot the bill for via our insurance premiums and taxes. The GOP also has a secret weapon: President Trump’s Most Favored Nation (MFN) policy in exactly its current form.
Last May, Trump issued an MFN, a market-wide solution demanding drug companies offer price parity for medicines sold abroad. It has long been known that drugmakers charge Medicaid as much as 422 percent more for certain pharmaceuticals than they do in other countries. But responding to the president’s Rooseveltian big stick, many of the Bigs have agreed and dropped their prices on brand-name drugs.
The Chicken Littles have been proven wrong about the effects, too. As Axios recently reported, “the voluntary White House deals [are] tolerable for the........
