Trump to sign executive orders to slash prescription drug prices on July 24

The United States President Donald Trump on July 24 will reportedly sign a series of executive orders on lowering prescription drug prices, the White House said. According to an international media outlet, Trump on Friday is expected to issue several orders including a demand to reduce Medicare’s drug payment by attempting to ensure the US doesn’t pay more than any other country. Further, the US President is also expected to address policies related to the drug discount program known as 340B, which gives hospitals access to steeply discounted medications. 

Trump, in his first term, had promised to tackle drug prices, however, the will to address the issue appeared to have faded away. Earlier this month, White House Chief of Staff Mark Meadows reportedly also informed that the President is going to sign three executive orders that will substantially make sure that the average American gets to pay less for their prescription drugs. Trump, who had previously urged lawmakers to rein in drug costs, is now expected to deliver remarks and sign the orders at 3:00pm EDT on July 24. 

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Cost of healthcare remains major issue 

It is believed that Trump’s move comes as the election nears and Democrats have been hammering Republicans on the issue of health care, particularly a Trump-backed lawsuit to overturn the Affordable Care Act. As per reports, the US President has been trailing Democratic presidential candidate Joe Biden in opinion polls ahead of the November 3 election. The cost of healthcare has been a major issue in the campaign. 

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While the Democratic-controlled House of Representatives earlier this month passed a healthcare bill that includes provisions to cut prescription drug prices, White House spokesperson Judd Deere preciously reportedly said that Trump continues to explore any and all options that will deliver lower drug costs. Deere added that the president will be ensuring that the Americans have access to the most innovative vaccines and therapeutics in the world. 

Trump’s order to slash drug prices comes amid coronavirus pandemic, which has only exacerbated the need for prescription drug reforms. The move also comes as millions of Americans, including the newly unemployed, are reportedly stuck with increasing ‘out-of-pocket’ costs for the medication in the middle of the historic health crisis. According to data from the Labor Department, nearly 1.4 million Americans has filed unemployment claims last week. 

(Image: AP) 

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