The CEO of the Pharmaceutical Research and Manufacturers of America (PhRMA) along with other industry leaders met with President Donald Trump, Vice President Mike Pence and House Energy and Commerce Chairman Greg Walden (R-OR) according to a blog post on the organization’s website.
“We talked about how we can work together to improve American competitiveness around the world and create more jobs here at home and enhance the U.S. biopharmaceutical industry that continues to lead the world in the development of lifesaving treatments and cures,” PhRMA CEO Stephen J. Ubl wrote.
According to a news release from PhRMA, areas of discussion included advancing trade agreements, reforming tax code and removing regulations.
“We believe that if these policies are enacted, it will translate to up to 350,000 new jobs over the next 10 years as a result of growth in the biopharmaceutical industry,” Ubl wrote. “We also talked about how we can work together on health care reform to give consumers more choices and create a more competitive health care marketplace.”
Having filed multiple lawsuits in the past to block the U.S. Health Resources and Services Administration from enforcing rule 340B, PhRMA is excited to have a voice in any health care reform. Rule 340B requires drug makers to offer life-saving medicine at a discount of up to 50 percent to hospitals and outpatient clinics that serve indigent populations.
“Our industry takes seriously the concerns raised about the affordability and accessibility of prescription medicines, and we have expressed our commitment to working with the administration to advance market-based reforms,” Ubl said. “We look forward to working with the administration and Congress to advance solutions that promote economic growth and job creation and create a more competitive health care marketplace.”
According to a report by Reuters, top executives from major players in the drug industry were also present in the meeting where Trump pushed for manufacturers to decrease costs. In turn, Trump announced plans to modify the approval process for new drugs.
“We’re going to streamline the FDA," the president said. He also told manufacturers that the federal government was paying “astronomical” prices for medicines.
