Article Summary
President Donald Trump announced his intention to sign an executive order on Monday morning that could significantly reduce prescription drug and pharmaceutical prices in the United States, potentially by 30% to 80%. This action aims to bring fairness to America in terms of drug pricing and is expected to save trillions of dollars for the country.
What This Means for You
- If implemented, this executive order could result in substantial savings for Americans on their prescription medications.
- The order would establish a Most Favored Nation policy, ensuring that the United States pays the same price as the nation that pays the lowest price for a specific drug, anywhere in the world.
- Pharmaceutical companies may have to revise their pricing strategies, potentially leading to increased scrutiny and regulation.
- By reducing healthcare costs, the executive order may lead to more affordable health insurance premiums and out-of-pocket expenses for Americans.
Original Post
President Donald Trump announced Sunday that he intends to issue an executive order Monday morning that is intended to drastically lower the cost of prescription medications “almost immediately.”
“Tomorrow morning, in the White House, at 9:00 A.M., I will be signing one of the most consequential Executive Orders in our Country’s history,” Trump proclaimed on social media.
“Prescription Drug and Pharmaceutical prices will be REDUCED, almost immediately, by 30% to 80%.
“They will rise throughout the World in order to equalize and, for the first time in many years, bring FAIRNESS TO AMERICA!”
Trump called it “one of the most consequential Executive Orders in our Country’s history.”
The new executive order will expand on one that Trump signed on April 15, directing the Department of Health and Human Services “to take steps to significantly reduce drug prices for American patients” by aligning and standardizing Medicare payments for certain prescription medications.
Key Terms
- Prescription Drugs
- Pharmaceutical Prices
- Trump Executive Order
- Most Favored Nation Policy
- Healthcare Costs
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