Trump's Bid to Slash Drug Prices: A Bold Gamble
U.S. President Donald Trump signed an executive order to reduce prescription drug prices in the U.S., aligning them with international prices. The move faces legal challenges and opposition from the pharmaceutical industry. The initiative aims to correct pricing disparities with countries like Sweden and Japan.
On Monday, President Donald Trump signed a sweeping executive order aimed at reducing the cost of prescription drugs in the United States. This decision seeks to align drug prices with those paid by other countries.
According to White House officials, drugmakers will soon be given specific price targets. Should they fail to make notable progress toward these targets within six months, the government is prepared to take further action.
This latest move forms part of Trump's ongoing efforts to address the high costs of medicines in the U.S., which are often significantly higher than in other developed nations. The initiative has stirred opposition from the pharmaceutical industry, which argues the policy could harm smaller biotech firms and challenges national drug pricing strategies.
(With inputs from agencies.)
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