Trump Unleashes Executive Order to Slash Drug Costs
(MENAFN) The U.S. president is poised to enact a significant executive order aimed at drastically reducing prescription drug costs for Americans, potentially by as much as 80%. He previewed the move on his social media platform, stating, “next TRUTH will be one of the most important and impactful I have ever issued.”
In a Sunday post on Truth Social, the president hinted at a forthcoming announcement of major significance. Three hours later, he revealed plans to sign what he termed 'one of the most consequential Executive Orders in our Country’s history,' focused on lowering the cost of prescription medications by pegging them to the lowest prices offered globally. The signing is slated for Monday morning at 9 am.
“I will be instituting a MOST FAVORED NATION’S POLICY whereby the United States will pay the same price as the Nation that pays the lowest price anywhere in the World,” the president stated in a subsequent post. He further noted, “Prescription Drug and Pharmaceutical prices will be REDUCED, almost immediately, by 30 percent to 80 percent.”
The United States currently spends approximately $400 billion annually on prescription drugs. Data from the National Health Expenditure Accounts indicates that the U.S. often pays up to three times more than other nations and spends more on prescription medications than any other country worldwide.
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