President Donald Trump holds up the "Patient Right to Know Drug Prices Act" after signing it and the 'Know the Lowest Price Act of 2018, ' during a ceremony in the Roosevelt Room of the White House in Washington, Wednesday, Oct. 10, 2018. One bill applies to private health insurance and the other to Medicare. Mr. Trump said prescription drug prices are a bipartisan issue that Republicans and Democrats can agree upon.
Pharmacists had been contractually prohibited from telling consumers when they would actually save money by not using their insurance plans.
"Foreign countries extort lower prices from USA drug-makers for their citizens, subsidized by higher cost prices for American citizens", Trump said at the White House, without mentioning the names of the nations". The analysis found it's been business as usual for drugmakers, with far more price increases than cuts.
Health and Human Services Secretary Alex Azar says the bills give patients the right to know about ways to pay the lowest price.
In May, Trump laid out a series of plans to make pharmaceutical companies more competitive, including reducing the cost of prescription drugs by allowing drug companies to introduce cheaper versions of medications already on the market, stating at the time they were "getting away with murder". Pharmacists who disobeyed faced penalties.