WASHINGTON (March 3, 2020) – President Trump met with pharmaceutical corporate executives today about finding a vaccine and treatment for the COVID-19 coronavirus, which is approaching 90,000 infections worldwide and has killed six people in the United States.
“Big Pharma rang in the new year with a gift to itself: higher prices and bigger profits on over 200 prescription drugs. Drug corporations are congratulating themselves for keeping most hikes under 10 percent, but let’s be clear: for most hard working Americans, the household budget isn’t growing by 10, or even five percent this year. The upshot? Another year of higher co-pays and out-pocket costs, and another year of having to choose between taking on debt or paying for drugs we need.”
“President Trump’s proposal to import prescription drugs is a poor substitute for real reforms that would guarantee everyone affordable medicine and stop Big Pharma’s price gouging. Instead, Trump’s plan does nothing to fix our fundamentally flawed system.”
Today’s bipartisan vote to pass the Elijah E. Cummings Lower Drug Prices Now Act is a critical step in helping more patients get the prescription drugs they need to be healthy. For the first time ever, this law would give the government the power to negotiate lower drug prices for millions of seniors and people with disabilities covered by Medicare and people with private insurance coverage.