That means details of how this importation policy would work are not yet available. The executive order calls for a report to be issued 45 days afterward with a plan outlining specific efforts to reduce prescription drug prices.
“I assume we’ll know more then,” Sachs said.
THE HIGH COST OF DRUGS
Promise: “I’m going to lower prescription drugs by 60%, and that’s the truth.”
On this pledge, the recent executive order outlined the president’s vision for how to proceed.
The order included an initiative designed to shore up the approval framework for generic drugs and biosimilars, working with the Federal Trade Commission to address efforts to impede competition for these types of drugs and help Medicare and Medicaid incorporate new payment models to cover them.
Experts so far have offered measured reactions.
The administrative actions outlined in this executive order do have the potential to reduce prescription drug prices, said Fiedler of the USC-Brookings Schaeffer Initiative. But it depends on more than just what the order says.
“In each of these areas, whether prices actually fall will depend on the details of the proposals the administration ultimately puts forward,” Fiedler wrote in an email. “However, these are all areas where there are opportunities to make changes that would have a meaningful impact.”
Again, more will be known in 45 days, the deadline for the release of the plan to reduce prescription drug prices.