Biden Blocks Trump's HHS Rule that Forces Big Pharma to Lower Drug Prices
Trump's order was designed to bring down the price of insulin for Americans
Democrat Joe Biden has signed another executive order that freezes and reverses rules put in place by President Donald Trump that forced Big Pharma to lower drug prices for Americans.
Trump had fought high prices for much-needed drugs and introduced the new rules last year, specifically to lower the cost of insulin.
The move sought to require costs to be lowered for low-income patients in some community health centers.
The prices for insulin and epinephrine would have been slashed in a bid to bring down unaffordable prices.
The measure was signed off on in December was scheduled to go into effect on Friday.
It has since been delayed until March 22.
On Thursday, the Department of Health and Human Services (DHS) announced that the directive would be put on hold.
The rule was among a number of other measures that were passed under Trump, but are not yet in effect.
On Wednesday, White House chief of staff Ron Klain directed agencies to pause orders signed towards the end of Trump’s term so they could be reviewed.
The order directs the administration to immediately withdraw rules that have been sent to the Office of Financial Research but not yet published in the Federal Register.
For those that have been published, but are not yet effective, members are directed to "consider postponing the rules' effective dates for 60 days."
In November, President Trump accused pharmaceutical companies of attempting to prevent his election victory over former Biden.
“Pfizer and others even decided to not assess the results of their vaccine, in other words, not come out with a vaccine, until just after the election,” Trump said at the time.
Trump said the companies purposely delayed the vaccine results while noting they planned to assess the data as early as October but postponed it.
“So they waited and waited and waited, and they thought they’d come out with it a few days after the election, and it would have probably had an impact, who knows, maybe it wouldn’t have,” Trump said.
The president added that Big Pharma was opposed to his re-election because he implemented new rules to reduce the cost of prescription drugs.
Last July, Trump signed a number of executive orders to limit prescription drugs' costs, slashing the price of many much-needed medicines.
Trump moved on his own to allow imports of cheaper medicines and cut costs of American pharmaceuticals.
"Nothing like this has ever been done before because Big Pharma, with its vast power, would not let it happen," Trump said on Twitter at the time.
"Expensive Insulin went from big dollars to virtual pennies."