President Trump signed an executive order aimed at reducing U.S. pharmaceutical costs by up to 90% by tying them to lower international prices. The action is intended to end what Trump describes as an unfair subsidy of foreign countries, thereby ensuring Americans do not disproportionately bear research and development costs. This order revives the 'most favored nation' concept, calling for negotiations on price reductions and urging foreign nations to contribute fairly. The Health Secretary is tasked with setting pricing targets within 30 days, which could lead to significant price drops.
President Trump signed an executive order to link U.S. drug prices to international rates, potentially reducing costs by up to 90%.
The goal is to stop subsidizing foreign countries and bring down U.S. pharmaceutical costs, which Trump argued would save Americans trillions.
New policy promotes price fairness, urging foreign nations to share in R&D costs and protect U.S. interests from high pharmaceutical costs.
Health Secretary will set pricing targets and negotiations, aiming for significant immediate reductions in drug prices after 30 days.
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