However, in the House GOP’s comprehensive tax and spending reduction proposal, the administration has brought the idea back to life as a possible means of meeting Medicaid’s steep spending cut targets.
It’s unclear, though, if the executive order will cover the plan or if it will be part of the legislation, the specifics of which should be revealed soon.
The pharmaceutical sector, which was successful in stopping the earlier version, is likely to oppose the proposal with vigor.
For American patients, this Foreign First Pricing plan is a lousy value. In a statement, Stephen Ubl, CEO of PhRMA, the primary
Trade association for the industry, said, “Importing foreign prices will cut billions of dollars from Medicare with no guarantee that it helps patients or improves their access to medicines.”
“It puts at risk the hundreds of billions of dollars that our member companies intend to invest in America, increasing our dependence on China for cutting-edge medications.”
In 2018, the Trump administration proposed linking Medicare’s prescription reimbursements to international pricing,
