President Donald Trump on Monday is set to announce a $25-million drug program aimed at boosting access to prescription drugs.
Trump announced his plan during a meeting with pharmaceutical executives and health insurers at the White House.
He said it would provide incentives for manufacturers to produce more generics.
“We’re going to have a drug program where you have to buy more generic drugs.
So, I’m going to put the $25m in there for manufacturers, and I’m putting the money into a drug supply chain program,” Trump said.
Trump said the program would “bring down prices for many people” and would “drive down the costs of prescription drugs for many of you.”
Trump also said that if he were elected president, he would also “bring back” the “death panels” that were abolished by President Barack Obama during his first term.
Trump is currently under pressure from the pharmaceutical industry to provide relief from the drug companies’ rising healthcare costs.
The president on Monday also said he wants to “make it easier” for people to get prescriptions.
His comments come as the president faces a looming midterm election, where Republicans are hoping to pick up control of Congress.
But Trump has said he would “make sure we don’t put any burden on Medicare, Medicaid, Social Security or anyone else.”
The White House has also been looking at how to boost access to pharmaceuticals, including by increasing competition with generic makers.
According to the Kaiser Family Foundation, the drug industry’s share of U.S. prescription drug spending has fallen from about 15% in 2012 to about 6% today.
On Sunday, Trump told a rally in Wisconsin that “the death panels are gone, but they’re not dead yet.”
He later said he meant that the death panels have not yet “declared their intent to be replaced with a new generation of medicine.”
In a post on his official Twitter account Monday, Trump said he is “very excited” to announce the $5 billion program.