WASHINGTON D.C. – In May, the Trump Administration announced an executive order imploring the pharmaceutical industry to treat the United States as a Most-Favored Nation, such that pharmaceutical companies would adjust pricing of prescription drugs for Americans to be equal or less than that of other peer nations.
Following this executive order, entitled “Delivering Most-Favored Nation Prescription Drug Pricing to American Patients,” President & CEO of the National Hispanic Council on Aging (NHCOA), Dr. Yanira Cruz, issued the following statement: “While the ‘Most-Favored Nation’ model stems from a legitimate effort to reduce drug costs, it risks a devastating impact on access to important treatment and medications for millions of older adults, particularly within Hispanic communities.”
NHCOA feels the utmost responsibility to reiterate the pitfalls of MFN drug pricing, and the immense danger for United States patients, should these changes take effect. While improving the affordability of prescription drugs in the United States is an absolutely necessary change to make within the U.S. healthcare landscape, it reflects a critical ignorance to the complicated eco-system at work around these drugs.
Due to the cost of research and development, it is highly likely that the development and implementation of new therapies and treatments for life-altering chronic diseases would be significantly set back. Furthermore, older adults particularly would feel the brunt of this devastating change to U.S. healthcare as the demographic already faces a swath of debilitating chronic diseases which they struggle to manage. We must also bear in mind the many underserved communities in the United States, which already struggle to receive adequate care, such as Hispanic and Latino American older adults.
The National Hispanic Council on Aging urges the Trump Administration to consider the immense risk that comes with the blunt introduction of MFN drug pricing. While American families deserve more affordable drug pricing, they certainly do not deserve the loss of treatments that would change their lives for the better. Affordability must not outweigh availability.
Once again, NHCOA emphasizes the need to prioritize reforms that balance affordability with ongoing access and innovation. Older adults, especially those in vulnerable situations, deserve comprehensive, sustainable solutions that protect their health and dignity.
About NHCOA:
NHCOA is the leading national organization working to improve the lives of Hispanic older adults, their families, and their caregivers. Headquartered in Washington, DC, NHCOA has been a strong voice dedicated to promoting, educating, and advocating for research, policy, and practice in the areas of economic security, health, and housing for Hispanic older adults, families, and caregivers for the last 51 years.
For more information about NHCOA call 202-347-9733 or visit www.NHCOA.org.
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