Trump's New Executive Order: Revolutionizing US Drug Prices
Donald Trump announces an impending executive order aimed at reducing drug prices by tying US Medicare payments to the lowest prices paid by other countries. The proposal, derived from a previously blocked initiative, is expected to face opposition from the pharmaceutical industry.
- Country:
- United States
President Donald Trump announced his intention to sign an executive order on Monday targeting drug prices, a move that could lower the cost of certain medications. This policy aims to link Medicare payments to the lowest prices paid internationally.
The proposed order would influence drug costs for Medicare, addressing high prices that have been criticized by both major political parties. It could create significant savings by applying a 'Most Favoured Nation' approach.
Despite its potential benefits for Medicare beneficiaries, particularly those receiving medications in a doctor's office, the executive order is anticipated to encounter strong opposition from pharmaceutical companies, concerned about profit impacts and innovation hindrances.
(With inputs from agencies.)
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