Trump's Bold Action: Slashing Drug Prices to Match Global Standards

President Donald Trump has announced his intention to sign a comprehensive executive order aimed at reducing the cost of prescription drugs in the United States. The directive aims to adjust medication prices, bringing them in line with those in other countries, and drug manufacturers have been informed of impending price targets.

The administration has set a 30-day period for drug companies to set their targets, with a six-month deadline for achieving 'significant progress' in price reductions. Should pharmaceutical companies fail to meet these objectives, the government stands prepared to enforce additional measures.

The plan, which includes considerations for direct-to-consumer drug purchasing programs, marks a departure from previous efforts hindered by legal challenges. Trump's move seeks to address the U.S.'s historically high drug costs, which are often threefold those of other developed nations.

(With inputs from agencies.)