President Donald Trump signed four executive orders on Friday aimed at lowering the cost of prescription drugs, the first of which, he says, will lead to the cost of insulin dropping to “just pennies a day.”
“The four orders I’m signing today will be on the prescription drug market in terms of pricing and everything else to make these medications affordable and accessible for all Americans. The first order will require federal community health centers to pass the giant discounts they received from drug companies on insulin and EpiPens directly to their patients. You know insulin became so expensive people weren’t able to use it. They desperately needed it,” he said.
“We have it to a level that you’re not going to believe. EpiPens – likewise you have been hearing horrible stories about EpiPens over the last six or seven years, horrible, horrible, horrible increases for where they went to almost nothing to massive amounts of money. We’re changing that right now,” the president said.
“These providers should not be receiving discounts for themselves while charging their poorest patients massive full prices. Under this order, the price of insulin for affected patients will come down to just pennies a day, pennies a day from numbers that you weren’t even able to think about. It’s a massive cost savings,” Trump added.
The second executive order “will allow states, wholesalers, and pharmacies to do something other politicians have promised for decades and decades but never done .. allow the safe and legal importation of prescription drugs from Canada and other countries where the price for the identical drug is incredibly lower.”
“It is a difference like you would not believe – 70%, 80%, 90%. 30% – but massively lower than the identical drug made in the same plant, same factory, same exact drug, same everything, same box, same pill, and yet, it’s 50, 60, 70% lower,” the president said.
He said Americans pay on average “three times more for medicine than Canadians.