Trump administration botched a deal to lower prescription drug prices - Business Insider

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The White House botched a deal to lower prescription prices because drug companies wouldn't budge on its request to pay for $100 gift cards that would've been mailed to seniors before the election

President Donald Trump's healthcare agenda includes lowering prescription drug prices and tackling surprise medical bills.

In a statement to Business Insider, a White House spokesperson said negotiations with the pharmaceutical industry "did not produce an acceptable alternative," and suggested President Donald Trump would pursue executive action on drug prices.

The matter of those $100 gift cards the Trump administration requested gave some drug company executives a reason to pause, The Times reported. "We could not agree to the administration's plan to issue one-time savings cards right before a presidential election," Priscilla VanderVeer, the vice-president of public affairs at PhRMA, the industry's largest trade group told the Times. "One-time savings cards will neither provide lasting help nor advance the fundamental reforms necessary to help seniors better afford their medicines.

The proposal to send out the gift cards comes as Trump loses support among seniors. Citizens aged 65 and older will represent

 

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