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"Trump Should Put High Rx Drug Costs On Table At Trade Talks, Mount Sinai CEO Says" - Leo Vartorella

  • Becker's Hospital Review
  • New York, NY
  • (May 18, 2018)

President Donald Trump's administration should address prescription drug prices in international trade negotiations, Kenneth L. Davis, MD, president and CEO of the Mount Sinai Health System, told CNBC. Dr. Davis argues it is unfair that Americans pay high prices for prescription drugs while foreign governments subsidize costs for their consumers to receive the same drugs for significantly less. "Americans wind up paying much more for our drugs than anywhere else in the world. The rest of the world controls their prices; the U.S., it's a free market,” he said.  "Essentially the U.S. is underwriting the research and development costs that happen for the rest of the world. This is a trade issue. This is a fair trade issue, and we have to bring it up in trade negotiations." Dr. Davis said President Trump should encourage drug companies to raise international prices on drugs, though he added that it’s not guaranteed that those companies would pass the savings along to U.S. consumers.

- Kenneth L. Davis, MD, President, CEO, Mount Sinai Health System

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