President Donald Trump has signed an executive order aimed at reducing prescription drug prices in the U.S. by up to 50%.
The plan would align U.S. drug costs with those paid in other countries, particularly wealthy nations. Health and Human Services Secretary Robert F. Kennedy Jr. has 30 days to set price-cutting goals.
The policy is more ambitious than previous efforts and targets not only Medicare but also Medicaid and private insurance. It introduces a “most favored nation” model, ensuring U.S. drug prices are capped at the lowest international rates.
Trump emphasized that the order is aimed at benefiting American citizens, despite strong opposition expected from the pharmaceutical industry.
The administration may also expand the importation of cheaper drugs from countries outside Canada and investigate actions by drugmakers that inflate prices.
While the plan has been met with support, experts worry about its legal challenges and the potential impact on pharmacies and healthcare providers. The success of this new initiative remains uncertain, but the administration is pushing for quick action.
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