President Donald Trump in his administration’s drug pricing blueprint suggests there are four key variables to addressing high drug costs, according to Managed Healthcare Executive:
- Stronger competition;
- Implement more productive negotiations;
- Create incentives for lower prices; and
- Trim out-of-pocket costs.
The Trump administration has tasked the Food and Drug Administration with ensuring drug manufacturers can’t exploit regulatory processes to hamper generic competition.
One executive told MHE that one key to boosting competition is to address patent protection issues.
“Improved competition can only be achieved by reducing the period of time of patent protection, allowing for brand drugs to convert to low-cost generics,” InteliSys Health CEO and Founder Thomas Borzilleri said.
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