The White House issues executive orders to reduce prescription drug prices

Kaiser Health News reported on an executive order issued on July 9 with the aim of reducing prescription drug prices. The executive order seems to have two major parts: allowing importation of drugs and plans to expedite the approval of generic drugs.

Interestingly, allowing the importation of drugs was also put forth by the previous administration, suggesting some bi-partisan support for the idea. However, foreign countries (namely Canada) might oppose exporting drugs to the US for fear of compromising their own supply.

The executive order calls for a more detailed plan to be released in 45 days, at which point, policy experts can weigh in on whether they think the plan will be effective. Even still, the system is a dynamic one, with various players (whether pharmaceutical companies or other countries) looking out for their own interests, so it remains to be seen whether the executive branch can effectively reduce drug pricing without legislative support.