The pharmaceutical industry has a “big problem” and needs to get better, President Donald Trump said Monday in a tweet.
The President has been critical of the industry for years for the costs of prescription drugs and its inability to address rising costs.
But he has also touted the industry’s financial health and the growing number of doctors who have chosen to treat opioid use with a drug called buprenorphine.
“Big Pharma is a problem.
It costs too much.
It kills too many people,” Trump said.
“The real problem is not that they make too much money, it’s that they do too much damage to our country.”
Trump also pointed to the cost of prescription drug costs and pointed to a survey of pharmaceutical executives released last week by the nonprofit group Avalere Health.
The survey showed that about half of pharmaceutical CEOs said that they expect to lose their jobs in the next two years, and that about 70 percent of executives surveyed have a “negative” view of the pharmaceutical industry.
“When you have a company that’s made billions, and they’re making billions, it shouldn’t be that they’re able to make billions of dollars and not be able to get the right price,” Trump added.
The president is scheduled to hold an event in the Rose Garden Monday to discuss opioid abuse and addiction.
The White House has also announced a plan to give $100 million to the Substance Abuse and Mental Health Services Administration, which will coordinate treatment for people who are addicted to prescription drugs.
Trump has also been critical about how pharmaceutical companies are paying for their drug products, particularly their costs.
The CEO of Eli Lilly, Lilly’s chief executive, said that it costs the industry $500 million a year to develop new drugs, but that “they’re taking advantage of the system to make sure it doesn’t work.”
“It’s a real problem,” Trump told CBS’ “Face the Nation.”
“I’ve never seen anything like it, but I’ve heard all kinds of things.”
In March, Trump signed a bill that would impose a $1,000 fine on the CEOs of companies that are in the pharmaceutical business.
The penalties apply to any company that “negligently and fraudulently” defrauded Medicare, Medicaid or Medicare Advantage programs.
The legislation was widely criticized by Democrats and some Republicans.
It also passed the House, but was blocked by the Senate.
The drug companies have argued that they pay their doctors a reasonable rate for their services, and the President’s new executive order seeks to correct that.
The companies also said they are paying out nearly $10 billion to doctors and hospitals to treat patients who are using their medications.
But the new White House order also aims to cut that figure in half and bring in a federal mandate for all drug manufacturers to make more affordable generic drugs for Medicare.