Huons sees limited impact on its exports from Trump’s executive order aiming at lowering drug pr...

[Shin-Min Joon, Edaily Reporter] As Trump signs an executive order aiming at lowering price of prescription drugs, Huons announced on May 14 that the company sees limited impact on its core business exports of local anesthetics to the U.S.

Huons CI. (Image=Huons)

According to the White House, U.S. President Donald Trump signed an executive order on May 12 (local time), ordering officials to communicate with drug manufacturers to offer U.S. consumers most favored-nation pricing.

According to the fact sheet from the White House, U.S. President Donald Trump’s pharmaceutical innovation was driven by the recent data that the prices U.S. consumers pay for prescription drugs are more than three times the price OECD member countries (economically advanced countries) pay.

The executive order directed the Secretary of Health and Human Services to establish new target prices over the next 30 days and warned to limit government subsidies if drug prices are not significantly lowered.

Huons has obtained seven Food and Drug Administration (FDA) approvals for injectable products including sodium chloride injection and lidocaine hydrochloride injection. Recently on May 5th (local time), Huons received its 6th and 7th FDA approvals for 1% and 2% multiple-dose vials of lidocaine hydrochloride injection.

The company’s main product, lidocaine injection, is on the list of essential medicines of the World Health Organization (WHO) and also on the drug shortages list of the FDA.

An official of Huons said “Although restructuring measures on pharmacy benefit manager (PBM) and the target pharmaceutical drugs are not announced yet, we expect the executive order to address drugs with high prices.”

He added “The order is expected to have limited impact on our core product, lidocaine injection.”