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Trump signs executive order to lower US drug prices

President Donald Trump signed a new executive order over the weekend aimed at lowering drug prices in the United States.

“My Most Favored Nation order will ensure that our Country gets the same low price Big Pharma gives to other countries. The days of global freeriding at America’s expense are over,” Trump said on Twitter.

The new executive order replaces a similar one signed on July 24th.

The industry’s largest trade group – the Pharmaceutical Research and Manufacturers of America, or PhRMA – denounced Trump’s move as ‘reckless’.

Opponents in the pharmaceutical industry say it will take follow-up and additional action in order for the executive order to have teeth.

The push to make sure that drug prices are universal across the world, and that U.S. consumers are paying the lowest prices possible. It’s unclear how some of that data would be obtained to find the best price. Those negotiations, between pharmaceutical companies and foreign nations are often kept confidential.

Categories: HealthNews