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The President Releases a Hurtful and Ill-timed Executive Order

As we all feared the President released an Executive Order (EO) last week that imports foreign drug pricing, an ill-advised and shortsighted method to lower drug costs. This EO is even worse than the proposed order that was released in July in that it also includes Medicare Part D drugs. It expanded from targeting drugs administered at the hospital or doctor’s office to those Part D prescriptions you get at your local pharmacy. This is a dangerous escalation.

This EO uses the term favored nation as a way to identify the foreign nations used for setting American drug prices. What it really does is import the socialistic, government dictated, access-controlled, pricing schemes of these so called “favored nations”, nations we have historically condemned for these very practices. I have said it before and will say it again, price controls don’t work, no matter what foreign country we seek to emulate.

It amazes me that the President has decided to release this innovation-limiting EO at the very time that we need all the innovation we can get to battle the COVID-19 pandemic. Even worse, it will depress innovation long term, meaning the new cures and vaccines we will need for the next pandemic-causing virus may not be available when we need them.

I don’t like the fact that Americans have been footing most of the bill for innovation but there are many other tools that can be used to accomplish this goal. This hurtful and ill-timed EO capitulates to the heavy-handed schemes used by foreign countries rather than using other tools, like proven free market policies and trade agreements, to level the playing field.

I’m asking you to speak out. Use whatever communication method you feel most comfortable with to tell your Senators and your Representative that this Executive Order is ill-timed and hurtful to older Americans. I like the fact that America is the center for new drug discovery, and we are often the first to get access to these lifesaving and life changing treatments. This Executive Order threatens the very foundation of this innovation that has changed our lives. Washington needs to know now how you feel. I urge you to make your voices heard.

Thair



4 Comments On “The President Releases a Hurtful and Ill-timed Executive Order

  1. Deanne Heitkamp

    The President released an Executive Order (EO) last week that imports foreign drug pricing, an ill-advised and shortsighted method to lower drug costs. The President has decided to release this innovation-limiting EO at the very time that we need all the innovation we can get to battle the COVID-19 pandemic. Even worse, it will depress innovation long term, meaning the new cures and vaccines we will need for the next pandemic-causing virus may not be available when we need them. This will be very hurtful to Seniors and I oppose it because it threatens innovative new drugs and our access to them.

    1. Thair Phillips

      Deanne – I agree! We need to export our competition free market approach to these other countries rather than importing their socialistic price fixing approach.

      Thair

  2. Marilyn Woudenberg

    I do not know exactly what it is that Trump is doing, but I do know our drug prices are way too high. There is no reason why we have to pay so much more than other countries, period and I don’t buy the premise that it is because of the cost for development. I am very skeptical of anything that President Trump is doing right now, it is in my opinion just something to get seniors to vote for him.

    1. Thair Phillips

      Marilyn – Other countries should share in paying for the cost of innovation but the solution is not importing other countries price fixing. There are other ways to solve this problem. I also think that the timing of these Executive orders is suspect.

      Thair

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