REPORT: Top health official suggests ‘massive’ drug price cuts will take time

BY KAT SHEPHERD / JUNE 12, 2018 /

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As the most reliable and balanced news aggregation service on the internet, DML News offers the following information published by Politico:

President Donald Trump’s top health care official is lowering expectations that drug companies will soon announce huge price cuts, undercutting Trump’s recent claims that his drug pricing plan would produce immediate results.

Trump on May 30 said some of the largest pharmaceutical companies would announce “voluntary massive drops in prices” within two weeks in response to his drug pricing plan released in mid-May. Wednesday will mark two weeks since Trump’s remarks, which drugmakers at the time said caught them by surprise.

The article goes on to state the following:

HHS Secretary Alex Azar told the Senate HELP Committee Tuesday morning that there are “several drug companies that are looking at substantial, material decreases in drug prices,” but he indicated it could take time for the cuts to happen. Azar did not say which companies were considering cuts or how deeply they would slash prices.

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