US: Trump boasts ‘Favored Nation’ Order to lower drug prices
By Eric Mack
President Donald Trump signed an executive order Sunday aimed at lowering drug prices in the United States by linking them to those of other nations.
“Just signed a new Executive Order to LOWER DRUG PRICES! My Most Favored Nation order will ensure that our Country gets the same low price Big Pharma gives to other countries. The days of global freeriding at America’s expense are over…”
“…and prices are coming down FAST! Also just ended all rebates to middlemen, further reducing prices.”
Trump has made it a campaign slogan he is bad for big pharma, rejecting big-dollar ad campaigns from the wealthy companies amid his efforts to lower drug prices to Americans.
The “favored nation” order forces drug companies to give Americans the best price for prescription drugs.
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To Get A Better Understanding the following should have been included.
“Three other executive orders were signed in July, which were designed to reduce drug costs for consumers in a bid to highlight his commitment to cutting prescription prices before the Nov. 3 presidential election.
The orders ranged from relaxing drug importation rules to cutting Medicare payments to drugmakers, but experts said they were unlikely to take effect in the near term. Similar proposals by the Trump administration stalled amid industry pushback.”