The National Association of Manufacturers (NAM) President and CEO Jay Timmons has responded to President Trump's executive order on prescription drug pricing. The order institutes a "Most Favored Nation" policy, aiming to address drug costs.
Timmons emphasized the role of biopharmaceutical manufacturers in the U.S., stating, "Biopharmaceutical manufacturers are investing in America. They are innovating cures and treatments for devastating diseases, and they are committed to ensuring that patients can access these life-changing and lifesaving medicines."
He highlighted the challenges faced by these manufacturers, noting that it costs over $2 billion and more than a decade to bring a new treatment to market. Timmons pointed out that nearly 90% of potential drugs do not receive FDA approval. He criticized pharmacy benefit managers (PBMs), describing them as unregulated middlemen who increase drug costs.
"Manufacturers agree with President Trump that it is vital that Americans have affordable access to lifesaving treatments," Timmons said. He called on Congress to regulate PBMs, which he claims dictate pharmacy prices and contribute to rising healthcare costs.
Timmons warned against adopting European-style price controls, arguing they would "dampen innovation and R&D, threaten patient access and empower bureaucrats abroad to undermine America’s health system." Instead, he urged focusing on the issue of PBMs: "Let’s not punish the innovators who develop and manufacture lifesaving medicines. Instead, let’s tackle the real problem: the middlemen."
He concluded by expressing NAM's commitment to reducing costs and expanding care access through collaboration with the administration on PBM reforms in legislation aimed at patient-first solutions.
Information from this article can be found here.
