President Trump on Friday revealed his long-promised plan to lower prescription drug prices. "The drug lobby is making an absolute fortune at the expense of American consumers," he said. "We are putting American patients first."
The proposal does not allow Medicare to negotiate for better deals, as Trump suggested on the campaign trail, but it does give the program more flexibility to respond as prices change. The Department of Health and Human Services says Trump's plan will operate in four areas: "increasing competition," "better negotiation," "creating incentives to lower list prices," and "reducing patient out-of-pocket spending."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Marbled tea eggs recipeThe Week Recommends With a beautiful exterior, these eggs are also marked by their soft yolk
-
The Washington Post: kowtowing to Trump?Talking Point The newspaper's opinion editor has handed in his notice following edict from Jeff Bezos
-
Gene Hackman: the death of a Hollywood legendThe French Connection actor had an extraordinary gift for making characters believable
-
Crafting emporium Joann is going out of businessSpeed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
-
Trump's China tariffs start after Canada, Mexico pausesSpeed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect
-
Chinese AI chatbot's rise slams US tech stocksSpeed Read The sudden popularity of a new AI chatbot from Chinese startup DeepSeek has sent U.S. tech stocks tumbling
-
The long road ahead to rebuild life in GazaThe Explainer As the Israel-Hamas ceasefire takes effect, Palestinians return to find 90% of homes destroyed, health and water infrastructure in ruins, and acute food poverty
-
US port strike averted with tentative labor dealSpeed Read The strike could have shut down major ports from Texas to Maine
-
Biden expected to block Japanese bid for US SteelSpeed Read The president is blocking the $14 billion acquisition of U.S. Steel by Japan's Nippon Steel, citing national security concerns
-
Judges block $25B Kroger-Albertsons mergerSpeed Read The proposed merger between the supermarket giants was stalled when judges overseeing two separate cases blocked the deal
-
Rupert Murdoch loses 'Succession' court battleSpeed Read Murdoch wanted to give full control of his empire to son Lachlan, ensuring Fox News' right-wing editorial slant
