Source: CNN
Trump signs executive order seeking to lower US drug costs by challenging prices in other countries
By Tami Luhby, CNN
6 minute read
Updated 11:32 PM EDT, Mon May 12, 2025
(CNN) — President Donald Trump signed a sweeping executive order Monday morning that promises to crack down on “unreasonable or discriminatory” practices by foreign countries that result in Americans paying far higher costs for prescription drugs.
“Starting today, the United States will no longer subsidize the health care of foreign countries, which is what we were doing,” Trump said before signing the executive order, which he claimed could lower drug prices by as much as 90%.
Also, drugmakers must start offering US patients the lowest price paid for a drug in a peer country, known as the “Most Favored Nation” price, or face consequences, the president said. He directed the Department of Health and Human Services to come up with price targets within 30 days.
“Big Pharma will either abide by this principle voluntarily or we will use the power of the federal government to ensure that we are paying the same price as other countries to accelerate these price restrictions and reductions,” Trump said, although it’s unclear what authority he has to demand certain prices, particularly in the private market.
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Read more: https://edition.cnn.com/2025/05/12/politics/trump-executive-order-prescription-drug-prices
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