President Trump signs order hoping to slash drug costs by 80%, match what other countries pay
2 min read
President Donald Trump signed "one of the most consequential executive orders in our country’s history" to reduce prescription drug prices by up to 80% in the United States.
"This Order builds on actions from President Trump’s first term to make progress on reducing price disparities at home and expands those efforts by including Medicaid in addition to Medicare," the executive order reads in part.
Health and Human Services Secretary Robert F. Kennedy Jr. joined the president as he explained that the order will require the federal government to tie what it pays pharmaceutical companies for those drugs to the price paid by a group of other, economically advanced countries, also called the "most favored nation" approach.
A White House official told The Associated Press before the press briefing that the order calls on the health department to broker new price tags for drugs. If a deal is not reached, a new rule will kick in that will tie the price of what the U.S. pays for medications to lower prices paid by other countries.
READ MORE: https://katu.com/news/nation-world/president-donald-trump-to-sign-executive-order-slashing-prescription-drug-costs-by-up-to-80-percent-pharmaceutical-healthcare-medicare-out-of-pocket
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Author: KATU News
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News post in at: May 13, 2025, 3:01 am.
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