Trump seeks to lower US drug costs by challenging prices in other countries
CNN
President Donald Trump is set to sign an executive order Monday morning that promises to crack down on “unreasonable practices” by foreign countries that suppress drug prices abroad, a White House official said.
President Donald Trump is set to sign an executive order Monday morning that promises to crack down on “unreasonable practices” by foreign countries that suppress drug prices abroad, a White House official said. It will apply to a wide range of drugs and to prices in the commercial market, as well as Medicare and Medicaid, and will most likely spark fierce legal battles. If prices do not come down quickly, the administration will look at various policy levers that can be used to force prices down, the official told reporters Monday. The mandate also calls for the Department of Health and Human Services to negotiate lower prices across all markets. If no progress is made, the agency will implement a rule to impose the “Most Favored Nation” cost for the drug, which would be the lowest price available among peer countries. This story is breaking and will be updated.
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