Trump's drug EO is 'a lot of bark, no bite': Former pharma exec
Share this @internewscast.com


() President Trump’s executive order to discuss President Trump’s executive order to cut drug prices up to 80% isn’t winning over everyone.

Former pharmaceutical executive William Soliman joined “Elizabeth Vargas Reports” to discuss the president’s order, which aims to reduce the bill for Americans at the pharmacy.

The order relies on voluntary compliance from companies and international cooperation, leading Soliman to question its overall feasibility.

“The issue really with this executive order is it’s missing a lot of details. So it’s a lot of bark and no bite, from my perspective, because the end of the day, you not only [have] to get the pharma companies to agree, but you’ve also got to get the other countries to tell you what the retail prices [are],” Soliman said.

“There’s actually nothing to force them to do that, right? So for a lot of these pharmaceutical companies, there’s very little incentive, obviously, to do that.”

Soliman says one of the primary reasons Americans pay vastly more for medical drugs is that the governments of foreign nations negotiate the price. However, in the United States, “middlemen” known as pharmacy benefit managers negotiate drug pricing, rebates and discounts on behalf of the health insurers.

“In the United States, over half of the population gets their insurance through their employers. It’s private insurance,” he explained. “So for the rest of us, it’s not going to actually make much of a difference.”

Instead, Soliman suggests many may receive no savings, and in one instance, may have to pay more.

“There could be a higher co-pay, because the pharma company may offset the loss of revenue on the Medicare side, which is about 20% of the country,” he added.

Share this @internewscast.com
You May Also Like

Lebanese Military Intensifies Disarmament Strategy: Targeting Non-State Groups Including Hezbollah

BEIRUT – The Lebanese Armed Forces announced on Thursday the completion of…

Sheriff Reports: Woman Assaulted After Suspect Forces Entry into Her Brevard Residence

BREVARD COUNTY, Fla. – Authorities in Brevard County have apprehended a suspect…

Trump Demands $6.2 Million in Legal Fees from Fani Willis: Unpacking the High-Stakes Election Interference Battle

ATLANTA – Former President Donald Trump is pursuing over $6.2 million in…

Syrian Government Calls for Civilian Evacuation Amid Ongoing Aleppo Clashes with Kurdish Forces

ALEPPO – Authorities in Syria have urged civilians to vacate a disputed…

Washington Co. Commissioners Weigh In: Potential Rejection of BWXT Rezoning Sparks Community Interest

JONESBOROUGH, Tenn. (WJHL) – In a significant move, the Washington County Planning…

Scott County Cancer Cluster Report Sparks Concern Among Parents and Healthcare Professionals: VDH Findings Under Scrutiny

In Scott County, Virginia, a recent investigation by the Virginia Department of…

Scott County Cancer Rates Analyzed: Why They Don’t Qualify as a ‘Cluster

The Virginia Department of Health (VDH) has revealed that Scott County does…

Greeneville Police Arrest Local Man on Serious Charges of Statutory Rape

GREENEVILLE, Tenn. (WJHL) — A man from Greeneville faces several statutory rape…

Windsor Speakeasy in Johnson City Announces Closure

A beloved establishment in downtown Johnson City, Tennessee, is preparing to bid…

Mount Etna’s Volcano Guides Erupt in Protest Against New Safety Regulations

MOUNT ETNA – Tour guides who usually escort visitors to witness the…

Denmark and Greenland Request Dialogue with Senator Rubio

In a bid to address growing geopolitical tensions, Denmark and Greenland are…

Orange County Hit-and-Run: Man Arrested Following Bicyclist Dragging Incident, Reports FHP

ORANGE COUNTY, Fla. – Authorities apprehended a man on Tuesday following an…