US President Donald Trump has pledged to slash prescription drug and pharmaceutical prices in the United States by as much as 80 percent through a new executive order, reviving a key issue from his first term in office. In a post on Truth Social, Trump said he would sign the order on Monday morning, promising Americans immediate relief from high medication costs.
“For many years the World has wondered why Prescription Drugs and Pharmaceuticals in the United States States of America were so much higher in price than they were in any other nation,” Trump wrote. “Sometimes being five to ten times more expensive than the same drug, manufactured in the exact same laboratory or plant, by the same company???”
Trump said the new policy would introduce a “MOST FAVORED NATION’S POLICY,” tying the cost of drugs sold in the US to the lowest price paid by any other country for the same drug. “Our Country will finally be treated fairly, and our citizens Healthcare Costs will be reduced by numbers never even thought of before,” he added.
The US president accused pharmaceutical companies of exploiting Americans by citing research and development costs to justify inflated prices. “Campaign Contributions can do wonders, but not with me, and not with the Republican Party,” he wrote. “We are going to do the right thing, something that the Democrats have fought for many years.”
Trump said the policy would not only lead to reductions in US drug prices of between 30 and 80 percent but would also force prices to rise in other countries to match, calling it a matter of fairness. “They will rise throughout the World in order to equalize and, for the first time in many years, bring FAIRNESS TO AMERICA!” he wrote.
If implemented, the executive order would primarily affect drugs administered in doctors’ offices and covered under Medicare Part B — such as cancer treatments and other injectable medications. These are some of the most expensive drugs Medicare covers, and costs for them reached $33 billion in 2021.
Trump first introduced a similar plan during his first term, but it was blocked in court and never took effect. At the time, the pharmaceutical industry lobbied hard against it, arguing that pegging US prices to foreign rates would undermine innovation and give foreign governments control over US drug costs.
Despite the previous failure, Trump insisted that this time would be different, promising that the move would “save TRILLIONS OF DOLLARS.” The proposal is expected to face strong pushback once again from drug manufacturers.
“For many years the World has wondered why Prescription Drugs and Pharmaceuticals in the United States States of America were so much higher in price than they were in any other nation,” Trump wrote. “Sometimes being five to ten times more expensive than the same drug, manufactured in the exact same laboratory or plant, by the same company???”
Trump said the new policy would introduce a “MOST FAVORED NATION’S POLICY,” tying the cost of drugs sold in the US to the lowest price paid by any other country for the same drug. “Our Country will finally be treated fairly, and our citizens Healthcare Costs will be reduced by numbers never even thought of before,” he added.
The US president accused pharmaceutical companies of exploiting Americans by citing research and development costs to justify inflated prices. “Campaign Contributions can do wonders, but not with me, and not with the Republican Party,” he wrote. “We are going to do the right thing, something that the Democrats have fought for many years.”
Trump said the policy would not only lead to reductions in US drug prices of between 30 and 80 percent but would also force prices to rise in other countries to match, calling it a matter of fairness. “They will rise throughout the World in order to equalize and, for the first time in many years, bring FAIRNESS TO AMERICA!” he wrote.
If implemented, the executive order would primarily affect drugs administered in doctors’ offices and covered under Medicare Part B — such as cancer treatments and other injectable medications. These are some of the most expensive drugs Medicare covers, and costs for them reached $33 billion in 2021.
Trump first introduced a similar plan during his first term, but it was blocked in court and never took effect. At the time, the pharmaceutical industry lobbied hard against it, arguing that pegging US prices to foreign rates would undermine innovation and give foreign governments control over US drug costs.
Despite the previous failure, Trump insisted that this time would be different, promising that the move would “save TRILLIONS OF DOLLARS.” The proposal is expected to face strong pushback once again from drug manufacturers.
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