Staff Reports
President Donald Trump, just a week into his second term, has set his sights on a familiar foe: Big Pharma. The former president’s plan to reduce outrageous prescription drug prices comes at a critical time when public trust in Congress has plummeted. Only 34 percent of Americans believe in the collective capabilities of Trump and Congress, while a modest 43 percent are confident that Trump will focus on bringing prescription costs down. This new endeavor promises to be a significant challenge, especially given the dismal 17 percent approval rating for Congress as a whole.
The reality of Washington politics reveals one undeniable truth: Big Pharma wields tremendous influence. While most Americans may not delve deeply into the details of healthcare policy, they are keenly aware when corporate interests place progress in jeopardy. A recent example highlights this concern—Representative Chip Roy bravely confronted an attempt by certain congressional members to sneak in pro-Big Pharma provisions during a spending showdown. These provisions sought to undermine insurers’ abilities to negotiate for lower drug prices, but public outcry thwarted this effort. However, the looming threat of similar measures re-emerging in future negotiations remains a real concern.
Trump declared a war on Big Pharma.
They can no longer strongarm FDA to remove drugs from the shortage list despite the ongoing shortage.
Bullish for $HIMS pic.twitter.com/zIiak6Zx9I
— Oguz O. | 𝕏 Capitalist 💸 (@thexcapitalist) November 9, 2024
Senator Bill Cassidy’s role in pushing to dismantle the 340B drug discount program adds another layer to this ongoing battle. This program is crucial as it ensures that pharmaceutical companies provide cheaper drugs to hospitals that serve low-income and rural communities, directly benefiting the working-class voters who often lean Republican. These communities, especially in Cassidy’s home state of Louisiana, could face devastating consequences if this discount program gets rescinded. Big Pharma has been relentless in its campaigns against state-level protections for 340B, leveraging lawsuits and cleverly reinterpreting federal law to boost profits at the expense of patients.
For Trump, this battleground against Big Pharma presents a golden opportunity to display leadership. Unlike many of his congressional counterparts, who are often seen as part of the problem, Trump has a track record of attempting to tackle prescription drug prices head-on. Critically, he must avoid letting Republican senators undermine public confidence by supporting measurements that weaken the very reforms he aims to implement.
Furthermore, Trump’s approach to healthcare has historically focused on understanding market dynamics rather than blindly granting the federal government unchecked control. His past actions—like proposing price controls during his 2016 campaign and implementing caps on 340B drug prices—reflect a pragmatic understanding of drug pricing woes. The current political landscape offers him the chance to push for tangible changes while navigating a Congress that Americans are increasingly skeptical of, potentially laying a foundation that will resonate with voters all the way to the 2028 election and beyond.
In this crucial moment, whether Trump engages in a vigorous crusade against Big Pharma will significantly shape his legacy and the perception of his commitment to his promise of “Making America Great Again”—again. The stakes couldn’t be higher, and American voters are watching closely to see if he can bring real change to a system fraught with compromises.
