President Trump signed an executive order to implement a Most-Favored-Nation pricing model to align U.S. drug costs with the lowest global prices. This policy targets brand-name drugs without generic competition and has the potential to save $88 billion over seven years, while addressing the issue of "foreign freeriding" on U.S. innovation. The order mandates that pharmaceutical companies must adjust their prices to match those in OECD countries or face enforcement, impacting Medicare and Medicaid, amidst strong opposition from the pharmaceutical industry.
Pharmaceutical companies must match OECD country prices or face enforcement, with Medicare Part B and Medicaid included in the plan.
This bold move, targeting brand-name drugs without generic competition, could save American taxpayers $88 billion over seven years.
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