President Trump seeks to honor his campaign promise of lower U.S. medical costs by forcing higher big-pharma prices in foreign countries.

Charlene Vos

2018-05-07 07:32:00 Mon ET

President Trump seeks to honor his campaign promise of lower U.S. medical costs by forcing higher big-pharma prices in foreign countries such as Canada, Britain, France, Germany, Japan, and South Korea. As of early-2018, the typical American spends more than $1,100 on prescription drugs per year.

It is true that many Americans take pills on a regular basis, but what sets the U.S. apart from most other OECD countries relates to high drug prices. President Trump now attempts to induce large pharmaceutical companies such as Merck, Johnson & Johnson, Pfizer, Amgen, and GSK etc to increase their medicine prices abroad. This strategic move would create economic incentives for these companies to cut drug prices in America. In light of the high health insurance and medical costs in America, the Trump administration either has to foster competition among biotech firms and pharmaceutical companies, or the Trump administration needs to induce them to voluntarily reduce medicine prices.

President Trump sometimes retorts with the deliberate hyperbole that drugmakers can **get away with murder** in what they charge the government for medication. As the American population enjoys longer human longevity with better medical technology, lower medicine prices seem to have become a necessary evil for big pharma.

 


If any of our AYA Analytica financial health memos (FHM), blog posts, ebooks, newsletters, and notifications etc, or any other form of online content curation, involves potential copyright concerns, please feel free to contact us at service@ayafintech.network so that we can remove relevant content in response to any such request within a reasonable time frame.

Blog+More

There are several highlights from the first news conference after Trump's presidential election victory.

Monica McNeil

2017-01-23 09:30:00 Monday ET

There are several highlights from the first news conference after Trump's presidential election victory.

There are several highlights from the first news conference after Trump's presidential election victory: The Trump administration will repeal-and-

+See More

President Trump unveils his ambitious $1.5 trillion public infrastructure plan.

Daisy Harvey

2018-02-11 07:30:00 Sunday ET

President Trump unveils his ambitious $1.5 trillion public infrastructure plan.

President Trump unveils his ambitious $1.5 trillion public infrastructure plan. Trump proposes offering $100 billion in federal incentives to encourage stat

+See More

Amy Chua and Jed Rubenfeld suggest that relatively successful ethnic groups exhibit common cultural traits in America.

Laura Hermes

2023-05-21 12:26:00 Sunday ET

Amy Chua and Jed Rubenfeld suggest that relatively successful ethnic groups exhibit common cultural traits in America.

Amy Chua and Jed Rubenfeld suggest that relatively successful ethnic groups exhibit common cultural traits in America. Amy Chua and Jed Rubenfeld (2015)

+See More

Treasury Secretary Steven Mnuchin indicates that there is a good conceptual trade agreement between China and the U.S. in regard to intellectual property protection and enforcement.

James Campbell

2019-10-05 07:27:00 Saturday ET

Treasury Secretary Steven Mnuchin indicates that there is a good conceptual trade agreement between China and the U.S. in regard to intellectual property protection and enforcement.

Treasury Secretary Steven Mnuchin indicates that there is a good conceptual trade agreement between China and the U.S. in regard to intellectual property pr

+See More

Internal capital markets and financial constraints

Charlene Vos

2022-10-15 09:34:00 Saturday ET

Internal capital markets and financial constraints

Internal capital markets and financial constraints Duchin (JF 2010) empirically finds that multidivisional firms with robust internal capital markets ret

+See More

Former LSE Director Howard Davies shares his ingenious insights into the new Basel 4 accord.

Chanel Holden

2018-01-01 06:30:00 Monday ET

Former LSE Director Howard Davies shares his ingenious insights into the new Basel 4 accord.

As former chairman of the British Financial Services Authority and former director of the London School of Economics, Howard Davies shares his ingenious ins

+See More