The major pharmaceutical industry lobbying group stated Thursday it, and a few drugmakers met with President Donald Trump to voice opposition to a bipartisan U.S. Senate bill that aims to decrease prescription drug prices.
The White House, which has said it backs the law, has promised to bring down drug costs for U.S. customers, a vital campaign problem for Trump, a Republican, as well as for Democratic rivals competing to oppose him in the November 2020 presidential election.
As per yesterday’s report, Trump is considering a complete executive order that would reduce prices on nearly all branded prescribed drugs sold to Medicare and other government programs, in line with two trade sources who had discussions with the White House.
Medicare is the U.S. government program that gives well-being coverage to people aged 65 and older, or who’re disabled.
The Senate bill moved out of the Senate Finance panel on Thursday morning and to the ground, the next step in the legislative procedure. White House spokesperson Judd Deere tweeted on Thursday that it applauded the action taken.
PhRMA, the lobbying group, said in a media release on Thursday that the law was not the right method to keep drug costs down and that it forces harmful price controls in Medicare Part D, this system for self-administered pharmaceuticals.
It didn’t uncover which firms accompanied it to the meeting with Trump and was not instantly available for further remark.
Amgen confirmed that it had attended the meeting; however, refused further comment.