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President Joe Biden He surprised by stepping forward with one of the demands of progressive Democrats: reducing the price of drugs.
The president asked federal health officials to intensify efforts to reduce the prices of prescription drugs, this as part of the “Executive Order to Promote Competition in the American Economy”, signed last Friday.
“That lack of competition raises prices for consumers. As fewer large groups have controlled more of the market, margins (charges over cost) have tripled ”, warns. “Families are paying higher prices for essential items such as prescription drugs, hearing aids and Internet service.”
The order asks various agencies of the Biden Administration to work with states to design plans to safely import drugs from Canada, where they are sold at lower prices, something the senator Bernie Sanders (Vermont) took as a constant flag in Congress with little support from legislators.
However, the former president Donald Trump he found a point of agreement on the need to reduce the cost of drugs, but his intentions did not advance.
“Americans are paying too much for prescription drugs and health care services, much more than they pay in other countries“, Warns the order.
He adds that health care has left entire communities without quality care, especially in rural areas, where there are few options and at high cost.
“Too often, patents and other laws have been misused to inhibit or delay, for years – even decades – competition from generic and biosimilar drugs, denying Americans access to lower-cost drugs,” he says.
Biden’s directive urges the Federal Trade Commission to promote the availability of generic drugs, prohibiting pharmaceutical manufacturers from paying generic companies to delay the sale of those drugs at low prices.
“Only a handful of companies control the market for many vital drugs, which gives them influence over everyone else to charge what they want,” said the president at the White House. “As a result, Americans pay two and a half times more for prescription drugs than any other advanced country.”
The possibility of importing medicines from Canada is also established.
“(Calls for) reducing prescription drug prices by supporting state and tribal programs that will import safe and cheaper drugs from Canada,” says the White House.
Eddie is an Australian news reporter with over 9 years in the industry and has published on Forbes and tech crunch.