President Trump should take real steps to actually lower drug prices, including ... bolstering U.S. drug manufacturing...
Bolster U.S. drug manufacturing to lower drug prices.
Occurrences
Restoring and bolstering American innovation.
Evidence
U.S. Senators Peter Welch and Amy Klobuchar reintroduced the Strengthening Medicare and Reducing Taxpayer (SMART) Prices Act, legislation to expand Medicare negotiation of drug prices to lower drug costs for consumers, reduce federal spending, and give the U.S. Department of Health and Human Services (HHS) stronger tools to negotiate lower drug prices in Medicare Part B and Part D.
U.S. Senators Peter Welch, Josh Hawley, and Amy Klobuchar introduced the Eliminating Thickets to Improve Competition (ETHIC) Act, bipartisan legislation to streamline drug patent litigation, encourage fair market competition, and lower prescription drug prices by making it easier for generic and biosimilar companies to enter the market.
U.S. Senator Peter Welch joined Senators Jeff Merkley, Bernie Sanders, and Representative Debbie Dingell in introducing the End Price Gouging for Medications Act, which would lower prescription drug costs for all Americans by requiring drug companies to offer medications in the United States at no more than the lowest price per drug in twelve other similarly developed countries.
U.S. Senator Peter Welch led Senators Roger Marshall, Mark Warner, and Bill Cassidy in introducing the bipartisan Protecting Pharmacies in Medicaid Act, legislation to limit abusive pricing practices by pharmacy benefit managers (PBMs), including 'spread pricing,' which drives up costs for Medicaid and short-changes pharmacies.
Senator Peter Welch issued a statement responding to Merck's lawsuit to block drug price negotiation provisions included in the Inflation Reduction Act, emphasizing his commitment to preserving these provisions and helping Vermonters afford prescription drugs.
Senator Peter Welch highlighted the passage of the Inflation Reduction Act, which empowers Medicare to negotiate drug prices for the first time, as a significant step toward more government action to control health costs.
Assessments
Senator Welch has sponsored or co-sponsored multiple pieces of legislation aimed at lowering drug prices through regulatory, manufacturing, and competitive reforms. Notably, he worked to enhance Medicare's negotiation power, streamline drug patent litigation, cap prices in relation to other countries, and address PBM pricing practices. However, there is no clear evidence that these legislative efforts led to the full implementation of bolstered domestic drug manufacturing as a direct means to lower prices, nor that all measures produced the promised outcome nationwide. Progress is evident but the core outcome is not fully delivered.