Exclusive: Lutnick says Trump will force drugmakers to lower prices

[BumRushDaShow]

Source: msn/Axios

9h


President Trump is turning up pressure on drugmakers to lower prices and demanding they commit within weeks to his "most-favored nation" policy, Commerce Secretary Howard Lutnick tells Mike Allen in the premiere episode of "The Axios Show."

Why it matters: The initiative — which calls for charging the U.S. less for drugs than comparable countries — continues Trump's efforts to reshape drug pricing through threats and public shaming.

It also raises the stakes for pharmaceutical manufacturers as they face threatened tariffs.

"The Axios Show" is our new series featuring our top reporters and experts interviewing newsmakers shaping politics, media, business, tech and culture. The full episode with Lutnick is out today.

What they're saying: "The president's going to say that you drug manufacturers cannot sell here unless you sell there at a higher price. Stop being willing to sell to them at such a low price," Lutnick said.

Trump says having the EU and other nations pay more for pharmaceuticals would lower the proportion of research and development costs borne by American consumers.

Between the lines: The action is as much about sticking it to the European Union and other countries that set lower drug prices for their citizens as it is about going after the pharmaceutical industry.

Read more: https://www.msn.com/en-us/politics/government/exclusive-lutnick-says-trump-will-force-drugmakers-to-lower-prices/ar-AA1MpqYy

[Irish_Dem]

1. The drug companies are today's extortion targets.

They will pay Trump the bribes he wants.

[Silent Type]

2. Kind of hard to argue with lowering drug prices, we've been clamoring about our prices being higher for decades. Now,

whether trump can do it is a big question. I doubt it, but I'm not going to totally discount it. A lot of drug companies aren't American and trumpsters hate foreigners.

[bucolic_frolic]

4. "A lot of drug companies aren't American" so we will pay much more for their products

and won't be able to afford the drugs we need. This is handing pharmaceutical research to foreign companies. We are surrendering our competitive edge yet again.

[bucolic_frolic]

3. Free market Republicans using the power of government to coerce outcomes

This is another whack at scientists too

[twodogsbarking]

5. Are we great yet? Soon? Two weeks? Next year? 2029? Never?

[Bayard]

6. So.....

Our costs remain the same, but other countries have to raise their's. Do I have that right?

[SharonAnn]

15. Yes, you have it right.

[LiberalArkie]

7. Is this like when he lowered the price of Insulin?

[twodogsbarking]

8. So we can expect a large increase in drug prices. You betcha'

[scipan]

9. And if they don't, we won't approve your new drugs.

See:
https://www.democraticunderground.com/10143528922

FDA wants to stop expert review for new drugs. Only in house reviews.

[tavernier]

10. The only place where I haven't seen the price go up

Is on my paycheck stub.

Is that so hard to understand, Congress?

[Bengus81]

11. Sure...to the HUGE Corporations that buy drugs wholesale. Everyone else gets double fucked

[Ford_Prefect]

12. After Big Pharma raises pricesx5 they will concede a 3 percent drop

With Mango 45's blessing.

[Figarosmom]

13. I don't think it will work.

The companies have contracts with other countries. They won't break them.

[Martin68]

14. Yeah, right. Trump said it so it must be true.

[kwolf68]

16. Not sure I understand

Thought Republicans were for capitalism, you know price is set by supply and demand. He's gonna meddle in the market economy? Interesting.

[Old Crank]

17. Sounds like a commie.

State mandating what business can charge.

Now the US has essentially slapped a 50% tariff on Swiss products. Almost a 15% devaluation of the dollar and 39% tariff. MAGA.

[republianmushroom]

18. Yup, like illegal tariffs will lower prices.

[Vinca]

19. Uh huh. And will he do it before or after he walks on water?

[The Mouth]

20. No one in America should have to pay more than anyone else in the world.

Best just to go back to the Constitution and after 7 years, anything and everything is in the public domain.