(Washington, D.C.) — The Pharmaceutical Care Management Association (PCMA) today issued the following statement following President Trump’s announcement on lowering drug costs in the United States:

“America’s pharmacy benefit managers (PBMs) applaud the Trump Administration for its continued focus on lowering prescription drug costs.

“PBMs share the Trump Administration’s goal of reducing prescription drug costs for every patient in America and have repeatedly called on drug companies to lower list prices, which is the most effective and lasting way to deliver a better deal for the American people.

“The Administration rightly recognizes that Americans are getting ripped off by paying higher drug prices than anyone in the world. Drug companies set drug prices, hike drug prices, and block more affordable drugs from competing in the market.

“We look forward to working with the Administration to realize the goal of lower drug prices and better affordability for all patients.”

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PCMA is the national association representing America’s pharmacy benefit companies. Pharmacy benefit companies are working every day to secure savings, enable better health outcomes, and support access to quality prescription drug coverage for more than 289 million patients.