President Trump has signed an executive order that will effectively lower drug prices. Drugmakers have expressed their disappointment with the executive order.
PhRMA issued an official statement responding to the newly signed executive order by President Trump.
“PhRMA is committed to working with all stakeholders, including elected officials across the ideological spectrum, to find market-based, competitive reforms to the challenges facing our health care system and patients. The focus of any reforms must be on lowering costs for patients, ensuring patients’ access to medicines, addressing the misaligned incentives in the pharmaceutical supply chain and protecting the critical work being done to end COVID-19. Unfortunately, instead of pursuing these reforms the White House has doubled down on a reckless attack on the very companies working around the clock to beat COVID-19” – Stephen J. Ubl, Pharmaceutical Research and Manufacturers of America president and CEO