President Trump is set to sign an executive order that will lower the costs of prescription drugs and pharmaceutical prices by 30% to 80%, according to his Truth Social account. Speaking from a news conference, he added that the U.S. will “no longer tolerate profiteering and price gouging from big pharma.”
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Trump Set to Sign Executive Order Lowering Drug Prices
In addition, Trump also called out some countries, such as the EU, for acquiring drugs at lower prices, likely a reference to price caps or stricter price negotiations. He added that he will help big pharma companies cut out the middleman in business transactions and that some countries could receive higher tariffs if they don’t abide by the U.S.’ drug policy.
Big pharma stocks are mostly trading higher on the news and are receiving a boost from positive U.S.-China trade developments as well.
