Trump signs executive orders to lower costs of prescription drugs
Helping you make ends meet, the president signed four executive orders Friday aimed at cutting the costs of prescription drugs.
Especially during the pandemic, this can help keep families afloat and reduce worry about the burden of their life-saving medication.
A student we spoke to, who has diabetes, says he spends thousands of dollars a year for prescriptions that keep him alive.
Bonita Pharmacy told us, especially with the pandemic, it’s been a major struggle for some people to afford their medicine.
There is hope President Donald Trump’s new orders will help those who depend on medication daily.
“I can do anything and accomplish anything in this world,” Ryan Price said. “At the same time, money is a barrier for me because insulin is too much.”
But it’s the cost Price must pay to survive. He was diagnosed with Type 1 diabetes when he was 5 years old.
“Our pancreases don’t work, so we physically need insulin,” Price said. “You see this little bottle right here? This lasts me anywhere from a week and a half to two weeks, and right now it costs me $289.”
But there is hope for lower medicine costs in sight. Part of Trump’s new executive orders allow big discounts on EpiPens and insulin to those such as Price, who is trying to pay for college at FGCU.
“We’re taking a stab at the pharmaceutical companies, which Trump has said in his campaign he will do, and he’s keeping his promise,” Price said.
Others such as Aidan Weir from Naples are skeptical.
“He can sign whatever he wants to sign, but they’re going to sue him,” Weir said. “It’s something that keeps the lights on for these companies.”
Three of the executive orders go into effect immediately. The fourth depends on a meeting between the president and pharmaceutical executives.
Pharmacists say the orders could face challenges with the FDA but are ultimately positive.
“It will helpful to everyone,” said Daivik Shah of Bonita Pharmacy.
The other executive orders would allow imports from other countries that sell drugs and use lower international prices for some using Medicare.
“Especially the elderly patients who are on Medicare, and they have a high deductible,” Shah said.