President Trump has signed an executive order mandating a reduction in prescription drug prices by 30% to 80%. This order directs the Human Services Secretary to establish a program enabling U.S. consumers to directly purchase drugs from manufacturers at the most-favored-nation price. Trump had previously attempted a similar program during his first term but faced legal challenges from drug manufacturers. Despite his past reluctance towards government price setting, this new approach marks a notable shift in his stance, aimed at addressing rising inflation rates affecting various consumer goods.
Trump's order aims to cut prescription drug prices significantly, introducing a program for consumers to purchase directly from manufacturers at the most-favored-nation price.
While previously advocating against government price controls, Trump now aims to implement price-setting measures for prescription drugs, despite past challenges and lawsuits.
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