President Donald Trump is taking a strong stand against high drug prices in a sweeping executive order.
His new plan promises to lower prescription drug costs for Americans by up to 50%.
“Whatever the lowest price paid for a drug in other developed countries, that is the price that Americans will pay,” said Trump.
However, there’s a catch. Despite this order, it remains unclear when or even if Americans will actually see lower prices.
This uncertainty arises from a similar initiative during Trump’s first term. He aimed to establish the so-called “Most-favored-nation rule,” which would have allowed the U.S. to benefit from discounts other countries negotiated for drugs under Medicare.
Unfortunately, federal courts blocked that move. This new plan goes even further. It is not limited to Medicare or a specific number of drugs.
Rony Fomeea, a pharmacist in Michigan since 1999, has witnessed firsthand the impact of high prescription drug prices on everyday Americans.
“People are making the choice of possibly paying for their drugs or paying for their necessities, such as food. People shouldn’t have to do that in this country,” said Fomeea.
This is a problem Trump is aiming to solve with his new executive order.
“We’re no longer paying 10 times more than another country,” Trump asserted.
Fomeea noted that the president is essentially telling big drug companies, “You either reduce your prices to match what’s happening in other countries, or he’s going to take action.”
Fomeea, who also serves as the vice chair of the Michigan Board of Pharmacy, shared his thoughts, emphasizing that while the initiative sounds promising, it may not be easy to implement.
He cited potential legal challenges and the impact these cost-cutting measures could have on neighborhood pharmacies.
“So many community pharmacies are struggling, creating something called pharmacy deserts where people don’t live in the vicinity of a pharmacy because they’re having trouble staying in business,” Fomeea said.
Trump has asked pharmaceutical companies to lower their prices voluntarily over the next 30 days, or else face consequences.
Regardless of how this situation unfolds, Fomeea advises that there are steps individuals can take right now to help manage their costs.
“Just because a doctor prescribes a high-cost drug doesn’t mean that there aren’t alternatives that will work just as well, such as generic equivalents,” Fomeea said.
