MEMO: One Month After Trump Announced Drug Plan, Costs Continue To Soar
June 11, 2018
TO: Interested Parties
FROM: DNC War Room
DATE: June 11, 2018
It’s been a month since Donald Trump announced his drug plan, where he promised to stand up to the pharmaceutical industry and rein in the costs of prescription drugs.
Rather than take real action to improve the economic well-being of millions of Americans who struggle with skyrocketing prescription drug costs, Trump’s plan has done little to lower drug costs and, in fact, could actually make them more expensive.
Pharmaceutical corporations have also won big from other Trump policies, including the Trump tax. Pharmaceutical companies received a disportionately large giveaway, with many companies receiving billion-dollar breaks. Unsurprisingly, so far this money has been passed along to their wealthy shareholders instead of used to lower drug prices.
This is what Americans have come to expect from Trump — an administration that puts corporate special interests first. While Trump has shown where his loyalties lie, Democrats will stand up to corporate greed, and continue to fight to lower prescription drug costs and restore economic fairness for all Americans.
Americans Continue To Struggle With Rising Drug Costs
One month after Trump unveiled his drug pricing plan, Americans are still suffering the consequences of the administration’s inaction. Here’s some of what they are saying about rising drug prices:
“We have left prescriptions at the pharmacy because we could not afford them.” – Arkansas resident Martha Nunnery
“If we don’t get it, what are our options? If we don’t get our medicine, they might as well just dig a hole and walk us off in it.” – Arkansas resident Bobby Nunnery
“There are a lot of seniors out there that are deciding, 'should I take my drugs, or should I eat?' And that's not right.” – Buffalo resident Jack Lafferty
Trump’s Drug Plan Won’t Lower Drug Prices:
Trump’s drug plan does little to lower the price of prescription drugs, and could actually make them more expensive for millions of Americans. In fact, in the month since Trump unveiled his plan, prices have continued to soar.
Two weeks after Trump unveiled his plan to lower drug prices, two cancer drugs got a $1,000-per-month price hike, in addition to dozens of other price increases.
Experts warn that instead of lowering drug prices, Trump’s plan could actually significantly increase out-of-pocket costs for some of the sickest people on Medicare.
None of the policies in Trump’s budget would tackle the biggest driver of high prices by preventing drugmakers from setting whatever price they want.
Trump’s Medicare Part D proposal could lead to around 4.5 million Medicare beneficiaries paying about $1,000 more for their prescription drugs.
Drug Companies Won Big From The Trump Tax:
Pharmaceutical companies received a disportionately large giveaway from the Trump tax, and are using it to pass along to their wealthy shareholders rather than lower drug prices.
Pfizer alone received a massive $11 billion boost from the Trump tax.
The biggest pharmaceutical companies announced more than $50 billion in stock buybacks after the Trump tax, but made no plans to lower drug prices and have even cut back on Alzheimer’s and Parkinson’s research.
Trump Broke His Promises And Sold Out To Drug Companies:
Trump’s plan breaks his promises and, according to himself, shows he’s sold out to the drug companies.
In a break from one of his major campaign promises, Trump did not call for Medicare to negotiate lower prices with drug manufacturers.
Trump Filled His Administration With Pharmaceutical Insiders:
Trump filled his administration with industry insiders, and his personal lawyer accepted over $1 million from a drug maker — it’s no wonder Trump’s plan is a big win for drug companies.
Trump’s personal lawyer received $1.2 million from a drug maker, after he promised them access to Trump and administration officials in charge of crafting health policy.
The official in charge of much of Trump’s drug price plan is an ex-top pharma lobbyist, who never received an ethics waiver when he joined the administration.