Recently, The President of the United States has signed four executive orders to lower the drug prices across the nation. The executive orders are approved to provide lower rate prescription drugs across the American people. However, the law made no difference as Trump faces massive pullback and criticism over his handling the surge of infections.
Previously, Donald Trump proposed an executive order to lower drug prices across the United States, but now the executive order was signed and sanctioned by himself.
The executive orders signed by the president of the United States will incorporate the legal importation of various drugs required to treat American citizens from Canada and provide low prices drugs directly to the patients without any middlemen in between. Another executive order will fourth the insulin rate; however, Donald Trump signaled if the talk between the pharmaceutical companies would succeed, then Medicare will have to buy the drugs at the same prices as the other companies and countries.
Moreover, Trump, as the top executives of the pharmaceutical companies, has requested a meeting to discuss the forthcoming of various executive orders to lower the drug prices.
However, the response from the pharmaceutical companies was not apprehended as they said it would create a mere distraction in fighting from the current pandemic.
Moreover, a biotech analyst Brian Abrahams said that the Trump administration is working to provide talking campaign points rather than making and providing tangible products that can benefit the American citizens.
Nonetheless, the release of the executive orders spiked the current losses of the pharmaceutical companies and made them recover from their losses.
The executive orders will revive rebates, which will result in an indefinite 30 billion dollars loss for the pharmaceutical companies. The proposal made by the president will benefit the American citizens but will affect the pharmaceutical companies as the reviving of rebates has many flaws that are left unconsidered.