Why the cost of the blockbuster drugs that were supposed to treat chronic depression has skyrocketed by more than $500 million.
The pharmaceutical industry’s lobbying group, the Pharmaceutical Research and Manufacturers of America, has spent millions of dollars to pressure the Federal Trade Commission and other federal agencies to make the price increase permanent.
But those efforts have failed.
That’s because President Donald Trump, who has signed the order, has vowed to undo it.
On Thursday, the president signed an executive order ordering a major cost-cutting plan for Medicare, Medicaid, Social Security, and veterans benefits.
But it was quickly followed by a temporary suspension of some of those benefits until further notice.
That’s despite the fact that those same organizations have been lobbying to keep the price increases on hold, including the National Association of Medicaid Directors, the American Association of Health Plans, the National Consumer Law Center, and the American Hospital Association.
“I have to say I am pleased to be able to get the president’s signature on the executive order on the drug price, because we can’t have the administration saying ‘no,'” said Laura Stemmler, director of policy and advocacy for the National Hospital Association, a trade group for hospitals.
Stemmner noted that the order also includes a waiver of federal health spending caps.
The caps are the largest in the country, covering $100 billion a year.
The administration has previously said that it would not go beyond that cap.
Stemsmler also said the order could be an “important moment” for the industry.
“We’ve been very vocal, and we’re not going to rest until we have this executive order,” she said.
“We need to see this as a ‘win-win,’ and we need to get this done.
And I think this is an important moment for the health care industry.”