Trump's Bold Move to Slash Drug Costs: A Controversial Initiative
U.S. President Donald Trump plans to issue an executive order to tie U.S. drug prices to those in other countries, in a bid to lower costs. The policy is part of the 'most favored nation' initiative for the Medicare program and faces opposition from the pharmaceuticals industry.
In a bold move, President Donald Trump is gearing up to sign an executive order aimed at slashing U.S. drug prices by linking them to those abroad, reveals insider information reported by Politico.
Touted as the 'most favored nation' initiative, the policy would specifically target certain Medicare drugs, a move that has sparked significant controversy and opposition from drugmakers, fearing its potential impact on the industry's innovation and financial stability.
Market reactions were swift, with leading U.S. pharmaceutical stocks taking a hit. Trump, reiterating the need for reform, highlighted the exorbitant drug costs Americans face compared to other countries and emphasized his commitment to tackling this disparity.
(With inputs from agencies.)
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