President Donald Trump is preparing to sign an executive order aimed at reducing prescription drug prices in the United States, with reductions projected to be between 59% and 80%, and potentially up to 90%. At a White House press conference, Trump emphasized the goal of eliminating price gouging by the pharmaceutical industry, noting that Americans currently pay considerably more for medications than in other developed countries. The order will set a maximum price based on the lowest price paid in other developed nations, although specific medications impacted by the order were not disclosed.
Trump teased the announcement on Sunday as one of the "most consequential" orders in US history.
"The United States will no longer tolerate profiteering and price gouging from Big Pharma," Trump said.
Americans paid 70% more for prescription drugs than they did in 2000.
"Gotta be honest. The @realDonaldTrump EO on healthcare and in particular, drug pricing could save hundreds of billions," Cuban wrote.
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