Australia’s worst fears are confirmed as the latest Trump executive order sending shockwaves around the world – it’s your loss.
Drug prices in Australia may rise after Donald Trump announced that it would sign an executive order to cut prices of U.S. drugs.
Trump said he will sign the order from the White House at 9 a.m. Monday, claiming that it will reduce drug prices in the United States by 30% to 80%.
Trump is releasing to the truth society that prices “will rise worldwide in order to balance over the years, and this is the first time that brings fairness to the United States!”
Supporters have described the order as “one of the most important execution orders in our history”, although details are not yet clear.
The move is a global focus, including Australia, including how it affects local drug pricing.
Jared Mondschein, director of research at the University of Sydney’s Centre for American Studies, said the news was not surprising.
He said it was no surprise that the White House has finally shifted over the issue of drug prices in the United States. ”
Surprisingly, they took 100 days to move. Americans pay for prescription drugs that people in other countries pay.
President Trump (pictured) says his plan will reduce drug prices in the United States by 30-80%
“One of the main reasons Donald Trump got attention first was because voters were frustrated by the high costs of health care and medication.”
As pharmaceutical companies try to balance global markets, Mr Monchisin warned that the move could lead to higher drug prices in other countries, including Australia.
He said it doesn’t take much digging to see Americans effectively subsidize the development of cutting-edge medicines in other parts of the world. ”
“It’s not that Americans don’t want to see innovation continue, they just want other countries to start paying for a fair share.”
He compared the move to Trump’s previous trade strategy.
“Just as Trump’s tariffs prompt countries to rethink supply chains, and global tensions have exacerbated defense budgets, countries must now increase their health investments,” Mr Monchising said.
He warned that if the state is reluctant to pay, they may be left behind.
“The reality is that if a country does not meet sustainable prices, it may just exclude it from the latest treatments,” Mr Monchisin said.
He also warned that this approach is not unique to Trump or Republicans.
The move is expected to have a global impact, which could lead to prices in Australia (stock image)
“Some people may think this is a unique announcement of Trump’s style,” Monsinen said.
“But it is worth noting what the Biden administration actually did. Things are changing.
He noted that the Biden administration has limited insulin costs to $35, reducing the price by about 70%.
“At the end of the day, Americans pay more for health care and insurance than anyone else without having to get better care,” Mr. Monksin said.
“It is politically untenable to keep this.”
Mr Monchising said it remains to be seen what the new executive order will actually include.
The real question now is how to implement this reform, he said. ”
Trump talked about lowering drug prices during his first term, but could not be completed.
All details of the program have not been disclosed (stock images)
“As always the devil in details, the political pressure of action is undeniable.”
Trump’s announcement sparked a series of responses on social media, with Australians slamming the crazy cost of the U.S. health care system.
“As a type 1 diabetes patient, the price they pay for insulin in the United States makes me sick because many people can’t afford this life-saving drug, it’s a crime!” one wrote.
“Even if Trump manages to lower the price by 80% as he said, they will still pay $20 or more!” Another added.
