Centers for Medicare and Medicaid Services Administrator Dr. Mehmet Oz touted the Trump administration’s efforts to lower prescription drug prices, arguing that Americans are beginning to see the impact of the administration’s most-favored-nation pricing agreements and the TrumpRx platform.
“This is just what the doctor ordered. This is the No. 1 issue that Americans fear about healthcare costs, because it comes out of their pocket. If you’re sitting at home right now, you go to a drugstore, because a doctor prescribed the medication, especially a branded product, that might change your life for the better, hopefully. One in three times, roughly, you will leave empty handed cause you can’t afford the medication,” Oz said on CBS News’s Face the Nation Sunday.
Oz emphasized that the cost of healthcare remains a major concern for Americans, particularly when expenses come directly out of their pockets. He also noted that patients are frequently forced to leave pharmacies without their prescriptions because they cannot afford them.
He argued that the administration’s efforts are changing that dynamic by addressing the disparity between what Americans pay for prescription drugs and what patients in other countries pay.
“When you see drug prices drop as fast as they have over the past year, the fastest drop we’ve had in 63 years. And it’s accelerating, which is why I’m confident that it’s gonna continue,” Oz said.
Prescription drug prices fell 0.8% in July and were down 3.1% from the previous year, marking the steepest annual decline in more than 60 years. The decline has coincided with the administration’s Most Favored Nation agreements and the February launch of TrumpRx.
Oz said the administration was careful not to dictate what pharmaceutical companies could charge, but instead sought to prevent Americans from paying substantially more than consumers abroad.
WHITE HOUSE ADDS GENERICS TO TRUMPRX
TrumpRx has also expanded since its February launch. In May, the administration added more than 600 generic medications through partnerships with Cost Plus Drugs, Amazon Pharmacy, and GoodRx, broadening the platform’s ability to connect consumers with lower-cost prescriptions.
Oz argued that the combination of international price matching and expanded access through TrumpRx could produce “seismic” savings for American patients.