US health care administrator accuses world of 'global freeloading' on drug prices

US health care administrator Mehmet Oz accused international markets on Tuesday of "global freeloading" by benefiting from American-subsidized drug prices.

"Our drug prices are about three times higher on average than the same drugs made in the same facilities in the same American factories," compared to what patients pay in Europe and Asia, said Oz, the Centers for Medicare & Medicaid Services administrator, at a White House briefing.

He said the Trump administration successfully negotiated a "most favored nation" strategy with the 17 largest pharmaceutical firms, ensuring Americans no longer pay more than international consumers. He said the move is expected to save $600 billion during the next decade.

Oz also announced a significant expansion of the TrumpRx.gov transparency platform, adding 160 medications to reach more than 750.

And starting July 1, eligible Medicare beneficiaries can access GLP-1 weight-loss drugs for a capped price of $50 per month, down from a list price exceeding $1,000, said Oz.

CRACKDOWN ON HEALTH CARE FRAUD

Oz detailed an "all of government" offensive against organized criminal groups targeting Medicare and Medicaid.

He confirmed that the agency has suspended payments to 850 hospices in California, nearly half of the state's total, due to alleged widespread fraud. Additionally, the federal government deferred $350 million to Minnesota following major takedowns of fraudulent autism service schemes, said Oz.

"If you're defrauding our most vulnerable citizens in America, do not walk away from this threat; run away from us, because we're coming after you," he said.