Drugmakers refuse to attend White House meeting after Trump issues executive orders on costs
2 weeks ago

Pharmaceutical executives refuse to attend White House meeting after Trump issues executive orders on costs

Pharmaceutical executives refused to attend a scheduled White House meeting with President Donald Trump Tuesday to discuss his new rule limiting drug prices, forcing the White House to cancel the session.

Drugmakers have criticized the move to tie certain drug costs to overseas pricing, which is known as the most favored nations rule. Some were surprised by the inclusion of the plan in Trump’s announcement, told Politico.

In response, industry representatives said they would not send any of their members to the Tuesday meeting.

The White House has been more than accommodating in attempts to schedule this meeting, a White House official said Monday.

President Trump, who announced the meeting Friday, said he was open to cutting the most controversial order, a plan to direct Medicare to pay the same price for certain drugs that other countries pay if an alternative to the rule could be decided on.

We may not need to implement the fourth executive order, a very tough order, Donald Trump said at the time.

The move is intended to slash the cost of prescription drugs, a 2016 campaign promise. The four orders I’m signing today will completely restructure the prescription drug market, Trump said in remarks at the White House.

Pharmaceutical companies would have a month to present their options, he said.

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