Washington, DC - Americans have heard politicians talk about high drug prices for years. It’s one of the main problems in health care that both President Donald Trump and I, as his health secretary, have talked about a great deal too.
But the Trump administration isn’t offering up just talk - we’re delivering results. In December for the first time in 46 years, the official government measure of inflation in drug prices actually dropped for all of 2018. More than a dozen companies last year cut their prices, froze prices or rolled back price increases.
One big change was just announced in May. Starting in July, drug companies will be required to include the list prices of their drugs in TV ads.
Now, when you see a prescription drug ad, it won’t just be drug companies telling you to consult your doctor about a drug, with no idea how much it might cost. Before you go pay for an appointment, you’ll know whether the price of the drug you heard about is $50, or $5,000 — and the company setting the $5,000 price will start to think twice about it.
That is just one piece of our plan for bringing down drug prices. The president’s blueprint promised tougher negotiation, more competition, lower list prices and lower out-of-pocket costs. In just the last year, the president has delivered on all four goals.
Read the full op-ed here.