Big Pharma faces rare day of reckoning as Trump pushes price cuts

Via Daily Timewaster

The pharmaceutical industry’s day of reckoning may have finally arrived.

President Trump and his administration are determined to move forward on a sweeping initiative to address the rising cost of prescription treatments and, for once, the drug lobby may be unable to block the effort. A blueprint revealed earlier this month contained a number of proposals — some more vague than others — that included allowing further private negotiation in the Medicare program and ending the drug rebate program.

Instead of a direct attack on the plan, Big Pharma hopes to craft policies that would quiet critics while avoiding potentially costly measures drugmakers have long opposed. It’s planning to work behind the scenes with the White House, the Office of Management and Budget and the Department of Health and Human Services to find common ground on the final regulatory proposals.