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Wednesday, Sep 16 2020

Full Issue

AstraZeneca Hiked Prices On Its Biggest Drugs By As Much As 6% This Year

Read about the biggest pharmaceutical developments and pricing stories from the past week in KHN's Prescription Drug Watch roundup.

One of the world鈥檚 largest drug companies has been aggressively raising prices even as it received hundreds of millions of dollars of U.S. government aid to develop a COVID-19 vaccine. AstraZeneca, which the Trump administration has lauded for its vaccine work, boosted prices despite renewed promises by President Trump this summer to keep drug costs in check. (Levey, 9/14)

In news on Trump's drug-pricing order 鈥

President Donald Trump鈥檚聽senior advisor Jared Kushner聽told CNBC on Tuesday he supports the president鈥檚 plan to cut drug prices, arguing that the U.S. shouldn鈥檛 pay more than other European countries for the same treatments. The comments by the president鈥檚 son-in-law came two days after Trump announced that he signed an executive order aiming to lower drug prices. ... 鈥淩ight now, there鈥檚 a disproportionate burden being shared by America,鈥 Kushner said on 鈥淪quawk Box.鈥 鈥淚f you鈥檙e the largest customer from somebody, you should be getting the best price, not the worst price.鈥 (Franck, 9/15)

On Sunday, President Donald Trump announced he had 鈥渏ust signed鈥 an executive order aimed at lowering prescription drug prices. The order states that its 鈥渕ost-favored-nation鈥 policy is intended to ensure the United States 鈥渟hould not pay more for costly Part B prescription drugs or biological products.鈥 (Parrott, 9/14)

President Trump is seeking a preelection boost on a top issue for voters 鈥 lowering drug prices 鈥 but there are doubts about when and if his latest move will bring down costs for patients. Trump signed a long-awaited executive order Sunday that aims to lower the amount Medicare pays for many drugs by tying the cost to the price tag in other developed countries. While the move could significantly cut the price for certain drugs, the timing of Trump鈥檚 action means implementation is unlikely before Election Day. (Sullivan, 9/14)

With 50 days to go before the 2020 election, President Trump is taking his wildest swing yet at the pharmaceutical industry. He鈥檚 likely to miss, but that might not matter. (Florko and Facher, 9/15)

This is part of the Morning Briefing, a summary of health policy coverage from major news organizations. Sign up for an email subscription.
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