US President Trump signs executive order aiming to reduce drug prices

US President Donald Trump signed an executive order aimed at lowering drug prices, demanding that drug companies offer prices for prescription drugs comparable to those in other developed nations. Health and Human Services Secretary Robert F. Kennedy Jr. will establish a mechanism through which American patients can buy their drugs directly from manufacturers who sell to Americans at a “Most-Favoured-Nation” price, bypassing middlemen.

Trump told reporters at the White House, before departing for the Middle East, that they are going to pay the lowest price there is in the world. He said



drugmakers would have to lower their US prices to the level paid by other developed countries, or could face investigation.

According to recent data, the prices Americans pay for brand-name drugs are more than three times the price other OECD nations pay, even after accounting for discounts manufacturers provide in the United States, the order noted.

The United States has less than five per cent of the world’s population, yet funds roughly 75 per cent of global pharmaceutical profits, according to the order..