US President Donald Trump has lambasted the pharmaceutical industry for what he said were "false advertisements" that alleged his drug price plan would increase the cost of prescriptions for US senior citizens.
"Big Pharma is taking television ads trying to make the case that I am raising prescription drug prices on seniors. The ad is a lie! What I have done will lead to a 50% REDUCTION in prices, at least, & Big Pharma is not happy about it", Trump said.
On 25 July, Trump announced that he had signed four executive orders intended to significantly lower prescription drug prices in the United States. Under these orders, it is allowed to legally import prescription drugs from Canada and other countries, and community health centres are required to pass the discounts they receive for insulin and EpiPens directly to patients.
US pharmaceutical manufacturers have successfully lobbied for years to keep bulk drug imports illegal, but consumer outrage escalated in 2019 amid a series of unexplained price increases.
Insulin, a drug needed on a daily basis to keep diabetics alive, provides one of the most convincing illustrations. According to one advocacy group running a series of spots on broadcast media, a month’s supply of insulin, which once cost less than $30 in the US, cost more than $300 in 2019.