President Donald Trump announced he will sign an executive order Monday morning to cut prescription drug prices by “30% to 80%,” promising “immediate” relief through a Most Favored Nation (MFN) policy that would match U.S. drug prices to the lowest rates paid abroad.
“Our country will finally be treated fairly,” Trump wrote Sunday on Truth Social, claiming the move would reduce health care costs dramatically and save the U.S. “trillions of dollars.”
The MFN approach, proposed during Trump’s first term, was previously blocked by federal courts after pharmaceutical companies sued. The new executive order is expected to revive the concept, though it remains unclear if it applies to Medicare, Medicaid, or both. The White House did not clarify the policy’s scope Sunday night.
Drug industry lobby PhRMA quickly condemned the move. “This Foreign First Pricing scheme is a bad deal for American patients,” said CEO Stephen Ubl, warning it could stifle U.S. drug innovation and increase reliance on China.
Analysts caution the sweeping claims may face legal and logistical hurdles, similar to earlier efforts during Trump’s first term that produced limited results.
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