Could Trump Bring Back International Reference Pricing
Interesting Forbes article alluding to a December dinner with President-elect Trump attended by Eli Lilly CEO David Ricks. Apparently, international reference pricing to set Medicare drug prices was discussed. Subsequently, Ricks has alluded to the need to increase prices abroad in developed countries, leading some to speculate Trump could re-issue his proposal for adopting the most favored nation prices for Part B medical drugs in Medicare. At the time, Trump said he might even make the proposal applicable to Part D retail drugs in Medicare.
During the campaign, he seemed to swear off the idea, but we know Trump changes his mind. He is also obsessed by being ripped off by other nations. Drug pricing is a great example. Drug makers agree to low prices in other developed countries because America pays for the vast majority of its profits (about three-quarters). The money earned in other countries is gravy.
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