Other nations are accused by Trump of causing high prescription drug costs in the U.S.; yet, specialists argue it's not their responsibility.

Other nations are accused by Trump of causing high prescription drug costs in the U.S.; yet, specialists argue it's not their responsibility.

Rewritten Article:

Donald Trump, the President, inappropriately placed blame for exorbitant prescription drug prices in the U.S. on foreign nations during a recent news conference. This comments came as he signed an executive order aimed at lowering drug prices.

The executive order gives drugmakers 30 days to voluntarily reduce prices in the U.S., or face future limitations in government payments. Health and Human Services Secretary Robert F. Kennedy Jr. will be tasked with developing a new rule if favorable deals aren't reached, which would tie U.S. drug prices to lower prices paid by other countries.

Let's dig into the facts:

CLAIM: "We've been subsidizing others' healthcare, the countries where they pay a small fraction of what we pay - for the same drug - and will no longer tolerate profiteering and price gouging from Big Pharma. But honestly, it was the countries that forced Big Pharma to do things that I'm not sure they really felt comfortable doing."

THE TRUTH: This statement is potentially misleading. Prescription drug prices are significantly higher in the U.S. compared to other high-income countries, but it's the way drug prices are negotiated in the U.S. that primarily drives up costs.

The U.S. has a unique drug pricing system that significantly differs from that of most high-income countries. Here are the core differences:

1. Unlike in other countries, the U.S. relies on fragmented negotiations with individual insurers and pharmacy benefit managers (PBMs), rather than a single regulatory agency negotiating prices for the entire population. This lack of consolidated bargaining power gives pharmaceutical companies an advantage in charging higher prices.
2. Governments in most high-income countries base drug prices on therapeutic benefits and international comparisons to create consistency and lower prices.

Other factors contributing to higher drug prices in the U.S. include:

1. The absence of strong governmental controls over drug pricing.
2. The U.S.'s significant contribution to global pharmaceutical research and development costs, which are typically factored into drug prices.
3. Market dynamics that benefit from multiple players and lack centralized negotiation.
4. The presence of intermediaries like PBMs and wholesalers that increase the cost of drugs.
5. Strong lobbying power and extensive patent protection, which limit competition and maintain high prices.

It remains to be seen what impact Trump's executive order will have on millions of Americans with private health insurance. Although the U.S. pays less for prescription drugs, it does not automatically mean other countries will pay more. Instead, other countries could negotiate for increased discounts, potentially hiding what they actually pay. Manufacturers, wholesalers, PBMs, and other supply chain members also prioritize maximizing profits over reducing costs for consumers.

In conclusion, the U.S.'s unique drug pricing system creates a market where drug prices are significantly higher compared to other high-income countries. Differences in pricing systems, fragmented markets, lack of price controls, patent protection, and middlemen costs contribute to these high prices.

1. The government's investigation into prescription drug prices revealed a unique system in the U.S., where prices are significantly higher compared to other high-income countries.
2. The news on Donald Trump's executive order aimed at lowering drug prices highlighted the potential for future limitations in government payments to drugmakers if voluntary price reductions aren't made.
3. Health and wellness is a concern as Trump's executive order may impact millions of Americans with private health insurance, leaving the outcome uncertain.
4. The court of public opinion may question the fairness of profits and price gouging from Big Pharma, as expressed in the recent news conference by the president.
5. Policy and legislation in the field of health and medical-conditions, particularly prescription drugs, have a significant impact on the financial standings of citizens, as acknowledged in the general-news discussion.
6. Due to the unique pricing system in the U.S., science and medical-conditions are not always adequately addressed due to the high costs associated with prescription drugs.
7. In the realm of politics and policy-and-legislation, there is a growing need for revised strategies to regulate prescription drug prices and ultimately benefit the health and wellness of all citizens.

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