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Trump unveils controversial drug price rules in a last-ditch attempt to fulfill campaign promise

November 20, 2020. Summarized by summa-bot.

President Donald Trump unveiled two controversial rules on Friday aimed at reducing drug prices -- a last-ditch effort to fulfill a key 2016 promise that immediately sparked legal threats from the pharmaceutical industry and condemnation from Democrats.

(CNN)President Donald Trump unveiled two controversial rules on Friday aimed at reducing drug prices -- a last-ditch effort to fulfill a key 2016 promise that immediately sparked legal threats from the pharmaceutical industry and condemnation from Democrats.

The other will effectively ban drug makers from providing rebates to pharmacy benefit managers and insurers -- a radical change in the way many drugs are priced and paid for in Medicare and Medicaid.

The model, which will operate for seven years, will test paying the most-favored-nation price for 50 Medicare Part B drugs that are administered in doctors' offices.

Trump first outlined an International Pricing Index proposal to set Medicare reimbursement levels for certain drugs on their cost in other countries in October 2018, seeking to bolster Republicans' standing on health care days before the midterm election.

The second rule will effectively ban drug makers from providing rebates to pharmacy benefit managers and insurers -- a radical change in the way many drugs are priced and paid for in Medicare and Medicaid.

PhRMA, the drug makers' lobbying group, said that the most-favored-nation rule will threaten medical innovation in the US and harm patients.

"Simply put, the [Health and Human Services] Secretary's decision to advance the previously withdrawn rebate rule will drastically increase Medicare Part D beneficiary premiums and taxpayer costs," said JC Scott, CEO of the Pharmaceutical Care Management Association, which represents pharmacy benefit managers.

"While the coronavirus surges across the country, President Trump is spending his twilight days in office pushing through half-baked proposals that will likely be struck down in court because he's desperate to cover up his administration's failure to actually lower drug prices," said Energy and Commerce Committee Chairman Frank Pallone, Jr. of New Jersey and Ways and Means Committee Chairman Richard E.

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