President Trump Announces Lowering Prescription Drug Pricing Executive Orders – Takes Aim at PBM Controlled Rebates
On July 24, President Trump unveiled his anticipated 4-Point Executive Order plan aimed at lowering Prescription Drug prices.
These Executive Orders would:
• Require PBMs to pass through manufacturer rebates to patients
• Require Part D to use “Favored nation status” pricing
• Allow Drug Importation Under Certain Circumstances
• Reduce 340B EpiPen and Insulin drug prices to patients
These Executive Orders take effect immediately except for the Part D “most favored nation status” will be delayed until August 25 to give the Administration and the pharmaceutical industry time to negotiate other Part D drug price lowering options.
When unveiling this package, President Trump made a point to outline how the PBM “middlemen” have added to the cost of drugs and only generated profits for themselves (PBM rebate reform executive order outlined starting at 7:28).
IPC will be working with our Washington, DC consultants and other pharmacy industry groups to ensure that these Executive Orders are implemented in ways that aid pharmacies and their patients.
Questions or Concerns? Contact IPC's Government Relations Team at: GovernmentRelations@ipcrx.com.