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Health

President Trump Says Major Pharmaceutical Companies To Slash Drug Prices In Two Weeks

Saturday 02/June/2018 - 10:46 PM
Sada El Balad
Edited by Ahmed Moamar
U.S. President Donald Trump said on Wednesday، May 30، that he expects drug companies to announce major drug price cuts in two weeks، as the Technical Times said.
Trump made his remarks during a signing ceremony for a right-to-try drug bill that aims to make it easier for seriously ill people to try experimental treatments. He said that drug company executives he did not name would visit the White House to make the announcement.
"You're going to have some big news. I think we're going to have some of the big drug companies in two weeks said they're going to announce، because of what we did، they're going to announce voluntary massive drops in prices،" Trump said.
It was not immediately clear which companies would slash prices and how the reductions would be made.
CNBC، which reached out to major drug companies for feedback on Trump's statement، said that Merck and Biogen said they are looking into it. Regeneron reportedly said that the company is not familiar with the plans and Gilead said no comment.
Health care lobbyists in Washington said that they were also surprised by the announcement and had no idea what the president was talking about.
Amid growing criticisms over the high cost of drugs، some pharmaceutical companies pledged to voluntarily limit their annual price increase to less than 10 percent. Prior to this، many drugmakers raised prices on prescription medicines two times a year، increasing drug costs by over 10 percent.

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