President Donald Trump announced he will sign an executive order to slash prescription drug prices by up to 59%, reviving a “most favored nation” policy that would tie U.S. prices to the lowest paid globally. In posts on Truth Social, Trump said Americans have been “suckers” for paying up to ten times more than other countries for the same medications.
The order is expected to focus on the Medicare program and will be unveiled Monday at a White House event with Health Secretary Robert F. Kennedy Jr. Trump previously attempted a similar measure during his first term, but it was blocked by the courts.
The renewed push rattled global pharma markets, with shares of U.S. drugmakers falling 2-3% after Trump’s weekend comments. “Drug prices to be cut by 59%,” Trump posted Monday, adding that other costs like gas and groceries are also “down.” He vowed “no inflation” and “fairness to America.”
