President Donald Trump announced plans to sign an executive order implementing a “Most Favored Nation” policy, aiming to reduce prescription drug prices in the United States by 30% to 80%. The policy would ensure that the U.S. pays no more for medications than the lowest price paid by any other country. Trump emphasized that this move would bring “fairness to America” and result in significant savings for U.S. citizens and the government.
The executive order is set to be signed at 9:00 A.M. on Monday at the White House. Trump highlighted the disparity in drug prices, noting that U.S. prices are significantly higher than those in other countries, with brand-name drugs averaging 4.22 times more expensive.
This policy revives a similar initiative from Trump’s first term, which faced legal challenges and was rescinded by the Biden administration. The pharmaceutical industry has expressed opposition, arguing that such measures could hinder innovation.
