Former President Trump announced a significant executive order intended to reduce pharmaceutical costs in the U.S. by 30 to 80 percent by linking prices with those in other countries. He described it as a 'Most Favored Nation's Policy,' aiming for fairness in drug pricing. However, the order primarily urges drug manufacturers to lower prices voluntarily and sets a plan for future rulemaking if prices do not decrease. The administration will also explore direct-to-consumer purchasing and importing drugs to enhance affordability.
Trump claimed he would sign an executive order to lower U.S. pharmaceutical costs by tying them to lower prices in other countries, promoting fairness.
The executive order, however, does not mandate price reductions but asks for voluntary compliance from drugmakers and threatens further action if prices remain high.
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