The Trump Administration announced this week that nine mid-sized pharmaceutical companies will lower the prices that Medicaid programs pay for drugs, bringing the total number of companies participating on TrumpRx.gov to 26. President Trump also recently announced agreements with nine major pharmacy benefit managers (PBMs) for greater drug price transparency for patients
"President Trump has made lowering prescription drug costs for Americans a priority, and this commitment is a step in the right direction. By making negotiated drug prices available alongside cash prices on TrumpRx, this agreement will give patients greater visibility into how much they're paying and help them find the best possible deal. That's the kind of transparency we need to boost competition, drive down costs and deliver better value for American patients,” CMS Administrator Dr. Oz said.
Prime Therapeutics CEO Mostafa Kamal, who was party to the announcement, has recently also called upon industry leaders and health plan sponsors to do more. He stated that industry business models should be structured around alignment - where success is tied to delivering value to employers and patients rather than maximizing revenue from higher drug costs. And that the incentives of healthcare partners need to be aligned – lowering costs, increasing access, and bolstering health outcomes for employees.
As a company that is owned by independent, not-for-profit Blue Cross and Blue Shield health plans, Kamal explains how that structure allows them to provide and offer different solutions to "improve affordability, outcomes, and the patient care experience over the long term.”
The impact on the state of Florida cannot be understated. Florida is competitive in terms of drug pricing, boasting some of the lower drug costs in the country according to some estimates. However, Florida ranks number four out of all states for the amount of money spent on prescription drugs, which equates to overall 4% of the nation’s total spend. And recent polling shows overwhelming support for President Trump’s efforts to lower drug prices.
