Former US President Donald Trump has announced that he will sign a major executive order aimed at reducing prescription drug prices in the United States by 30 to 80 percent. In a post on his social media platform, Truth Social, Trump said this order will establish a “Most Favored Nation” policy, requiring the US to pay the same low price for prescription drugs as the cheapest-paying country worldwide. He criticized pharmaceutical companies for making Americans pay significantly more than citizens of other countries and blamed campaign contributions for years of inaction on the issue.
Trump emphasized that this order will bring fairness to American consumers by aligning domestic drug prices with international standards, promising substantial reductions in healthcare costs. He also claimed that the order would save the US government trillions of dollars. This move, according to Trump, addresses long-standing concerns about inflated drug costs and will significantly improve affordability for the average American without relying on influence from pharmaceutical industry lobbyists.
This new order follows a previous one signed in April that sought to standardize Medicare payments for cancer drugs and other treatments, potentially cutting patient costs by up to 60 percent. It also includes measures to lower insulin and epinephrine costs for low-income or uninsured patients, allow drug imports to help states save money, and enhance access to discounted medications under Medicaid. According to the Department of Health and Human Services, prescription drug prices in the US rose over 15 percent from January 2022 to January 2023, highlighting the urgency of reform.
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