On July 31st, the White House published a Fact Sheet titled “President Donald J. Trump Announces Actions to Get Americans the Best Prices in the World for Prescription Drugs," which outlines several steps President Trump is taking to reduce drug prices. The Fact Sheet summarized letters President Trump sent several leading pharmaceutical companies outlining the steps they must take to bring down the prices of prescription drugs in the United States to match the lowest price offered in other developed nations. The letters are a part of an overall initiative of President Trump to reduce drug prices, as announced in an Executive Order titled: “Delivering Most-Favored-Nation Prescription Drug Pricing to American Patients."
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President Trump Announces Actions to Reduce Prescription Drug Prices
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President Trump: “In case after case, our citizens pay massively higher prices than other nations pay for the same exact pill, from the same factory, effectively subsidizing socialism aboard [abroad] with skyrocketing prices at home. So we would spend tremendous amounts of money in order to provide inexpensive drugs to another country. And when I say the price is different, you can see some examples where the price is beyond anything — four times, five times different.”
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