Trump says he will sign ‘most-favored nation’ order in bid to lower drug prices
President Trump announced on Sunday that he plans to sign an executive order that would base U.S. drug prices on the prices paid by other countries, which are typically much lower than what Americans pay. In a post on his Truth Social account, Trump stated that the U.S. will now “pay the same price as the Nation that pays the lowest price anywhere in the World.”
This move, known as the “most-favored nation” policy, is not a new concept and was previously attempted by Trump during his first administration. However, there are still many unanswered questions regarding how this policy will be implemented and enforced. It is expected that the pharmaceutical industry will challenge this executive order in court, as they have done in the past with similar measures.
The pharmaceutical industry has historically opposed any efforts to regulate drug prices, arguing that it could stifle innovation and hinder their ability to develop new treatments. Critics of the industry have long pointed to the vast disparity in drug prices between the U.S. and other countries, with Americans often paying significantly more for the same medications.
While the details of the executive order have yet to be fully disclosed, it is clear that the Trump administration is taking a bold stance on drug pricing in an effort to lower costs for American consumers. This move is likely to have far-reaching implications for the pharmaceutical industry and could potentially lead to significant changes in how drugs are priced and marketed in the U.S.
As with any major policy change, there are bound to be challenges and obstacles along the way. It will be interesting to see how the pharmaceutical industry responds to this executive order and whether it will ultimately have the intended effect of reducing drug prices for American consumers. Only time will tell how this new policy will impact the healthcare landscape in the U.S.
