whitehouse.gov shows text (not image) of two executive orders yesterday relating to prescription drugs:
and a second appearing to correct the first in a number of ways
Both are concerned only with Medicare. The first mentions Part B, whereas the second also mentions Part D.
The second deletes a paragraph from the policy statement of the first:
The need for affordable Medicare Part B drugs is particularly acute now, in the midst of the COVID-19 pandemic, which has led to historic levels of unemployment in the United States, including the loss of 1.2 million jobs among Americans age 65 or older between March and April of 2020. The COVID-19 pandemic has also led to an increase in food prices, straining budgets for many of America’s seniors, particularly those who live on fixed incomes. The economic disruptions caused by the COVID-19 pandemic only increase the burdens placed on America’s seniors and other Medicare Part B beneficiaries.
They adopt a formula apparently allowing companies to price by per capita GDP:
Sec. 2. Policy. (a) It is the policy of the United States that the Medicare program should not pay more for costly Part B or Part D prescription drugs or biological products than the most-favored-nation price.
(b) The “most-favored-nation price” shall mean the lowest price, after adjusting for volume and differences in national gross domestic product, for a pharmaceutical product that the drug manufacturer sells in a member country of the Organisation for Economic Co-operation and Development (OECD) that has a comparable per-capita gross domestic product.
The second also repeals a prior order (which is presumably the first):
Sec. 5. Revocation of Executive Order. The Executive Order of July 24, 2020 (Lowering Drug Prices by Putting America First), is revoked.
That was the secret order:
In any event, there appears to be a speculative reduction in Medicare drug prices, but not in non-Medicare prices.