Senate Finance Committee Chairman Chuck Grassley (R-Iowa), co-author of the bipartisan Prescription Drug Pricing Reduction Act of 2020, released the following statement regarding President Donald Trump’s executive orders aimed at lowering prescription drug pricing and sharing the cost of investment in the development of critical drugs.
“President Trump continues to lead where both parties in Congress have failed. I have real concerns about the impact of the executive orders, but I don’t blame President Trump for doing what he can to deliver on his promise to lower prescription drug prices. The pharmaceutical industry had every opportunity to avoid tying drug payments to international prices, including by getting behind Grassley-Wyden. Their refusal to work with Congress in good faith to fix a system that is clearly broken causes me to have very little sympathy for an industry that consistently stands in the way of real reforms.
“The bipartisan legislation I co-authored with Ranking Member Wyden remains the best path forward for lower prescription drug costs while preserving innovation. I remain extremely disappointed that Democrats put election-year politics ahead of the American people and walked away from the bipartisan legislation they helped write. President Trump’s executive action will surely be challenged by Big Pharma in the courts, which is why legislative action is best for making lasting changes to lower drug costs for patients and families.”