Trump signs executive order to lower Medicare drug prices
President Trump said he signed an executive order on Sunday to lower certain Medicare drug prices by tying them to prices paid in other developed countries.
“My Most Favored Nation order will ensure that our Country gets the same low price Big Pharma gives to other countries,” the president tweeted during a campaign trip in Nevada. “The days of global freeriding at America’s expense are over and prices are coming down FAST!”
He said the action also will end “all rebates to middlemen, further reducing prices.”
The move has been pending since July, when the president held a signing ceremony for four executive orders aimed at lowering drug prices. He said he was delaying the most consequential one, on a “most-favored nation” clause, until Aug. 24 to give the pharmaceutical industry more time to make a deal.
Published at Sun, 13 Sep 2020 19:27:58 +0000