US President Donald Trump signed an executive order intended to lower drug prices in the country by linking them to those of other nations.
Trump EO Looks to Lower Drug Prices
On Sunday, Trump announced the news on Twitter, stating that "My Most Favored Nation order will ensure that our Country gets the same low price Big Pharma gives to other countries. The days of global freeriding at America's expense are over..."
The President also added that drug prices were dropping fast and they will be reduced further as all rebates to middlemen have just ended.
On Sunday, The White House also revealed the executive order which did not look like a new one, as it was dated July 24th of this year.
In July, Donald Trump signed an executive order stating that he would require the government healthcare program Medicare to tie drug prices to those paid by other nations. Nevertheless, the order execution was overdue as the administration was trying to solve the issue with the industry.
Again in July, President Trump highlighted his efforts to lowering drug prices by signing three additional executive orders aimed at reducing prescription costs for US consumers.
The orders referred to loosened rules for drug importation and excision of Medicare payments to drug producers. Experts, however, think that the orders will not be effective soon as similar proposals were rejected by the industry in the past.