Drug Prices Have to Come Down: Azar

HHS secretary Alex Azar says he and President Donald Trump won’t stop pressuring drug companies until the list prices of drugs come down. Fox Business reports that Azar told the network that the administration will “roll out more regulatory and legislative proposals and we will work with Democrats and Republicans to get list prices down.”

Politico reported that Azar spoke out after he and other key advisors met 1/8 with Trump on the issue.

Several drug companies raised prices on more than 250 products by an average of 6.3% 1/1.

Fox Business says Azar claimed that the current system of raising prices on products to remain competitive is pointless. “The companies that have increased their prices here on 1/1 all admitted they were doing so basically to funnel kickbacks in the form of rebates to pharmacy benefit managers to keep preferred status of their drugs on the formularies available to patients,” he reportedly said.