President Trump: Keep Campaign Promise to Lower Prescription Drug Prices

Target: Donald Trump, President of the United States

Goal: Stop executive order aimed at weakening regulations on the pharmaceutical industry.

President Trump committed during his campaign to aggressively push the pharmaceutical industry to reduce the price of prescription drugs in the United States. This comes after decades of double-digit cost increases which have severely stretched consumers and government healthcare budgets. However, a draft executive order appears to significantly weaken existing regulations with no added protections for consumers from spiraling drug prices.

The cost of prescription drugs is projected to rise by a minimum of 10 percent in 2017. This far outpaces a 2.5 percent projected increase in the average wage. Americans are already straining under the weight of escalating costs, with almost 10 percent of consumers reporting that they are unable to afford the recommended dose. Meanwhile pharmaceutical companies are benefitting from soaring stock valuations and record earnings. Industry giant Gilead saw its reported profits rise from $4.2 billion in 2013 to $21.7 billion by 2015. This was partially due to sales from a Hepatitis C drug which was priced at $1,000 per pill.

Intense lobbying efforts by the pharmaceutical industry may have been successful in dissuading Trump from following through on his campaign promise to lower drug costs. $78 million was spent on lobbying in the first quarter of 2017 alone, representing a 14 percent increase from the previous year. Several administration officials including FDA chief Scott Gottlieb were plucked directly from industry.

If implemented as currently written, the executive order would make it easier for pharmaceutical giants to form monopolies overseas and remove a requirement for drugs to be provided to facilities which serve low-income patients at a reduced cost. It also does not call on Congress to grant Medicare the authority to directly negotiate drug pricing, a strategy President Trump championed during the campaign.

Americans cannot afford more years of ever increasing prescription drug prices. Please sign the below petition demanding President Trump fulfill his campaign promise to protect consumers and lower drug costs.

PETITION LETTER:

Dear President Trump,

I am writing to demand that you uphold your campaign pledge to lower prescription drug prices in the United States. These costs are projected to increase by at least 10 percent in 2017, which will further stretch patients, many of whom are unable to afford their medication’s recommended dosage.

The executive order you are currently reviewing does not contain any new consumer protections and may actually increase costs by not requiring pharmaceutical companies to provide drugs to low-income patients at a reduced price. You consistently highlight your track record of fulfilling campaign commitments, so please stay true to your word by rewriting this executive order to prevent future price increases.

Sincerely,

[Your Name Here]

Photo Credit: Pexels

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3 Comments

  1. Trump keep your promise to the American publs!

  2. Trump keep your promise to the American public, regarding lower rx prices. Your health plan does not refect your promise!

  3. Gen Lovyet Agustsson says:

    lower drugs or abolish drugs now!

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