President Trump has signed an Executive Order aiming to address the rising costs of prescription drugs in the U.S. This initiative directs the Department of Health and Services to negotiate with drug manufacturers, pushing for lower prices within a 30-day timeframe. If progress is unsatisfactory, the government may implement regulatory actions or import cheaper drugs. Trump emphasizes the disparity in drug costs compared to other nations and blames foreign countries for benefiting from lower prices. However, experts warn the order's success will greatly depend on implementation nuances and how pharmaceutical companies respond.
President Trump calls his new Executive Order aimed at lowering prescription drug prices "one of the most consequential Executive Orders in our country's history." He aims to negotiate with pharmaceutical companies for lower prices.
While the order's goal is to reduce drug prices, its effectiveness will depend heavily on how it is implemented and the response from pharmaceutical companies.
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