Trump working on new system to promote competition in drug industry

| Updated: Mar 08, 2017 02:15 IST

New Delhi [India], Mar. 7 (ANI): U.S. President Donald Trump on Tuesday said that his administration is working a new system that would promote competition in the drug industry and bring down the cost of medicines for Americans. "I am working on a new system where there will be competition in the Drug Industry. Pricing for the American people will come way down!," he tweeted. "Don't worry, getting rid of state lines, which will promote competition, will be in phase 2 & 3 of healthcare rollout. @foxandfriends," the President said in another tweet. Earlier today tweeting about his 'wonderful new Healthcare Bill', Trump said, "Our wonderful new Healthcare Bill is now out for review and negotiation. ObamaCare is a complete and total disaster - is imploding fast!" Yesterday, the Republicans unveiled a bill to repeal the Affordable Care Act (ACA) with a plan that shrinks the government's role in healthcare. Called the American Health Care Act, the bill would eliminate the individual mandate, which required Americans to have health insurance or pay a fine; cut the number of people insured under Medicaid; and allow insurance companies to charge the elderly up to five times more than the young, according to the Guardian. "The American Health Care Act is a plan to drive down costs, encourage competition, and give every American access to quality, affordable health insurance. It protects young adults, patients with pre-existing conditions, and provides a stable transition so that no one has the rug pulled out from under them," said House speaker Paul Ryan. "Working together, this unified Republican government will deliver relief and peace of mind to the millions of Americans suffering under Obamacare. This will proceed through a transparent process of regular order in full view of the public." Patient advocacy groups were quick to attack the plan, pointing out that it is a far cry from plans promised by Trump. (ANI)