OPINION:
American presidents have been talking about lowering drug prices for decades. Last week, President Trump got it done at a speed that no one ever thought possible.
The crux of his drug pricing victory is the release of TrumpRx, a website that hooks up consumers with the cheapest list prices available for the drugs they need with the click of just a few buttons.
No more having to blindly trust the health care industry to have our household budgetary interests in mind. Thanks to Mr. Trump’s leadership, the American people can now shop around for the best possible prices for drugs, just like they do for groceries or household goods.
It’s an extraordinary achievement, and millions of Americans will benefit immediately. Anyone who says otherwise probably thinks Kamala Harris should be president.
Americans have been paying high prices for medicines, sometimes up to 1,000% more than consumers in other developed countries for the same medicines and the same dosages.
The drug companies came up with all sorts of half-baked arguments for the differential pricing, but Mr. Trump didn’t buy any of them. He put his formidable negotiating powers to use, and the drug companies caved.
Going forward, Americans will pay lower prices for prescription drugs than people in other rich countries, with much of the savings tied to more than 40 of the most popular (and expensive) medications.
Consider the discounts on so-called GLP-1 medications, which are taken to address conditions such as type 2 diabetes and obesity. The monthly cost of Wegovy has been $1,349, and Ozempic, $1,028. With the Trump reforms, those prices will fall to an average of $350 and potentially as low as $199.
Five major drug companies are part of the new pricing plan: AstraZeneca, Eli Lilly, EMD Serono, Novo Nordisk and Pfizer. More will be signing up, so the benefits to American consumers will keep growing.
It was only in July that the president sent letters to the large drug companies and spelled out the steps they should take to reduce their prices. Just two months later, he had 16 deals with the companies. They knew he meant business and that if they stonewalled, the consequences for them could be worse. That’s what happens when a president is both respected and feared.
He has also put people in place throughout his administration who know how to get results.
Last week, the Trump-appointed head of the Federal Trade Commission, Andrew Ferguson, struck a landmark deal with pharmacy benefit managers, the companies that negotiate drug pricing on consumers’ behalf. The deal changed some of their business operations in a way that will cut prescription drug prices significantly.
In fact, the FTC projects that the agreement will reduce out-of-pocket spending on drugs such as insulin by up to $7 billion over the next decade.
Predictably, left-wing groups such as the American Economic Liberties Project have argued that it doesn’t go far enough, but they never seem to acknowledge witnessing real reform, at least not when it comes from this administration.
Remember, this is the same group that chose to side with attorneys general Letitia James and Keith Ellison in opposing the Trump administration’s effort to keep us safe from China’s dangerous telecommunications monopoly by approving the HPE-Juniper merger. This decision was heavily lobbied for by the U.S. intelligence community, but to the American Economic Liberties Project and its cohorts, it must be bad if the current president’s fingerprints are on it.
Unlike these characters, Mr. Trump recognizes how the political system has sidelined consumers’ interests, and he has promised to fix it. With the major reforms in drug pricing last week, he has made a major down payment on that promise.
Partisan critics will have to be blind to the benefits. Because going forward, millions of Americans will have affordable access to medicines. These beneficiaries will understand better than anyone else that, fundamental to President Trump’s promise to make America great again, is also the promise to make America healthy again. If that’s wrong, then I don’t want the administration to ever be right.
• Steve Cortes (@CortesSteve) is president of the League of American Workers and senior political adviser to Catholic Vote. He is a former senior adviser to President Trump and Vice President J.D. Vance and a former Fox News commentator.
Please read our comment policy before commenting.