Trump to sign executive order on drug prices
President wants to do more to lower drug prices, according to White House
President Trump is expected to sign an executive order on Friday afternoon aimed at lowering drug prices.
A spokesperson for the administration confirmed in a statement on Thursday that the president is “determined to do even more” to cut costs.
“The president continues to explore any and all options that will deliver lower cost drugs, while ensuring we have access to the most innovative vaccines and therapeutics in the world,” the spokesperson said.
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It is unclear what exactly will be included in the order.
However, Politico reported on Thursday that White House is aiming to eliminate rebates that regulators pay to pharmacy benefit managers.
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The executive order would come just months ahead of the 2020 presidential election at a time when companies are racing to create a coronavirus vaccine as cases continue to rise in some states.
A handful of companies, including Moderna, Pfizer and AstraZeneca, have said they are relatively far along in the development of a potential drug.
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FOX Business’ Blake Burman contributed to this report.