President Trump campaigned to use the buying power of the federal government to directly negotiate downward the prices of drugs used by Medicare patients. The question this white paper addresses is what could this policy, if enacted, have on the structure of US and global drug pricing and associated market effects? Specific projected effects are highlighted for both the US and global pharma markets. The paper concludes by noting what pharma companies and government policymakers must do to counteract the expected adverse consequences of President Trump’s policies. The failure of government policymakers to appropriately respond to Trump’s pricing policies will result in a pharma industry that is less dynamic in its ability to develop and launch innovative medicines that benefit the global healthcare community.
Dr. George A. Chressanthis is currently Principal Scientist at Axtria. He brings a unique combination of professional experiences into the analysis of strategic and operational issues affecting the biopharmaceutical industry.
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