Can employer health plans survive additional increases to drug prices? With the Trump administration threatening another round of tariffs, time is ticking down to find out.
Earlier this month at the National Republican Congressional Committee, President Donald Trump shared that his administration will announce tariffs on pharmaceuticals “very shortly.” Increased prices of goods could spell disaster for the industry, as 80% of essential ingredients for prescription drugs are manufactured outside the U.S., according to the Committee on Homeland Security and Governmental Affairs. Pair this with the fact that the U.S. currently faces 270 drug shortages, and it’s clear prescription prices are bound to jump — adding insult to injury to the current average annual hike of 4.5%.
