{"id":25207,"date":"2025-05-12T16:28:52","date_gmt":"2025-05-12T16:28:52","guid":{"rendered":"https:\/\/site.itshrt.com\/worldnews\/trump-signs-executive-order-asking-companies-to-lower-drug-prices\/"},"modified":"2025-05-12T16:28:52","modified_gmt":"2025-05-12T16:28:52","slug":"trump-signs-executive-order-asking-companies-to-lower-drug-prices","status":"publish","type":"post","link":"https:\/\/site.itshrt.com\/worldnews\/trump-signs-executive-order-asking-companies-to-lower-drug-prices\/","title":{"rendered":"Trump Signs Executive Order Asking Companies to Lower Drug Prices"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<\/p>\n<div data-testid=\"companionColumn-0\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">President Trump on Monday <a class=\"css-yywogo\" href=\"https:\/\/www.whitehouse.gov\/presidential-actions\/2025\/05\/delivering-most-favored-nation-prescription-drug-pricing-to-american-patients\/\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">signed an executive order<\/a> asking drugmakers to voluntarily reduce the prices of key medicines in the United States.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">But the order cites no obvious legal authority to mandate lower prices. The order said the administration would consider taking regulatory actions or importing drugs from other countries in the future if drugmakers do not comply.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">It was something of a win for the pharmaceutical industry, which had been bracing for a policy that would be much more damaging to its interests.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">On Sunday evening, Mr. Trump <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2025\/05\/11\/us\/drug-prices-executive-order.html\" title=\"\">said in a Truth Social post<\/a> that he would link U.S. drug prices to those in peer countries under a \u201cmost favored nation\u201d pricing model, a policy he attempted unsuccessfully in his first term for a small set of drugs in Medicare. His executive order on Monday does not do that. Pharmaceutical stocks rose Monday morning on the news.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-1\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">Mr. Trump\u2019s executive order came just hours after House Republicans <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2025\/05\/12\/us\/politics\/republicans-medicaid-cuts.html\" title=\"\">offered an expansive set of health care policy changes<\/a> that would cut around $700 billion from Medicaid and the Obamacare marketplaces over a decade and would cause an estimated 8.6 million Americans to become uninsured. Congress declined to include any provisions to directly limit drug prices in that package.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">The executive order also called on federal agencies to investigate why European countries get lower prices and to push them to pay more. The Trump administration has limited leverage to drive up prices in Europe.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">\u201cI\u2019m not knocking the drug companies,\u201d Mr. Trump said on Monday shortly before signing the order. \u201cI\u2019m really more knocking the countries than the drug companies.\u201d<\/p>\n<p class=\"css-at9mc1 evys1bk0\">With his executive order, Mr. Trump opted not to propose measures that could have had more teeth, such as calling for his administration to work with Congress on legislation or writing regulations to change how government health programs pay for some drugs.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Many Republican lawmakers oppose regulations on drug prices, but Mr. Trump has long railed against the current system, in which pharmaceutical companies charge the United States significantly higher prices than the rest of the world.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-2\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">At Monday\u2019s event, Mr. Trump directed his ire toward European governments that have negotiated lower prices.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">\u201cWe\u2019re going to help the drug companies with the other nations,\u201d he said.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Mr. Trump threatened to use trade policy to push European countries to pay more for prescription drugs. But drug companies are already locked into contracts with governments, and if they try to charge more for new medicines, European countries may balk at covering them at all.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">In his first term, Mr. Trump tried unsuccessfully to enact a more substantive <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2020\/11\/20\/upshot\/trump-drug-prices.html\" title=\"\">policy to reduce drug prices<\/a> for Medicare, the health insurance program that covers <a class=\"css-yywogo\" href=\"https:\/\/data.cms.gov\/summary-statistics-on-beneficiary-enrollment\/medicare-and-medicaid-reports\/medicare-monthly-enrollment\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">68 million<\/a> Americans who are over 65 or have disabilities. That plan would have applied only to 50 drugs, administered at clinics and hospitals, that are paid for by Medicare. A federal court blocked it, ruling that the administration had <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2019\/01\/22\/upshot\/for-trump-administration-it-has-been-hard-to-follow-the-rules-on-rules.html\" title=\"\">skipped steps<\/a> in the policymaking process.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Some experts said that policy could have passed legal muster if it had been pursued by the book, and others said that he would have needed Congress to pass a law.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Monday\u2019s executive order, on its face, calls for changes to a much larger number of drugs, and for all Americans, not just patients insured by Medicare. But it lacks a clear mechanism for enacting the price reductions.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-3\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">The order said that if the initial actions did not make enough progress in lowering U.S. drug prices, the Trump administration may \u201cpropose a rulemaking plan to impose most-favored-nation pricing.\u201d<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Democrats have introduced numerous bills to bring American prices more in line with those of foreign peers, and legislation passed during the Biden administration allows Medicare to negotiate directly on the price of a limited set of drugs used in the program. In general, policies that would lower drug prices are <a class=\"css-yywogo\" href=\"https:\/\/www.kff.org\/health-costs\/poll-finding\/public-opinion-on-prescription-drugs-and-their-prices\/\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">very popular<\/a> among both Republican and Democratic voters.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">The drug industry has also been bracing for punishing <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2025\/04\/15\/health\/trump-tariffs-drug-imports-china-india-ireland.html\" title=\"\">tariffs on imported medicines<\/a>, which Mr. Trump has vowed to impose soon. Mr. Trump recently said he was planning an announcement about pharmaceutical tariffs this month. Tariffs would most likely drive up some drug prices in the United States and cut into drugmakers\u2019 profits even if they can pass along some of the added costs.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Pharmaceutical investors were relieved that Mr. Trump did not propose the more substantive policy he had threatened. After dropping in premarket trading, pharmaceutical stocks rebounded when the details of Mr. Trump\u2019s move became clear. Merck\u2019s stock was up 5 percent on Monday morning. Pfizer\u2019s rose by 3 percent. An index of smaller biotechnology stocks was up by 3 percent.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">\u201cBetter than feared,\u201d analysts at the Wall Street bank Jefferies wrote in a note to investors.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">In <a class=\"css-yywogo\" href=\"https:\/\/www.bio.org\/letters-testimony-comments\/john-f-crowley-president-and-ceo-biotechnology-innovation-organization\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">statements on Monday<\/a>, lobbying groups for drugmakers said the United States should not look to other countries for how much they pay for drugs.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-4\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">But the main industry group, PhRMA, applauded Mr. Trump for threatening to use trade negotiations to push foreign governments \u201cto pay their fair share for medicines.\u201d<\/p>\n<p class=\"css-at9mc1 evys1bk0\">\u201cU.S. patients should not foot the bill for global innovation,\u201d said Stephen J. Ubl, PhRMA\u2019s chief executive.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Brand-name drug prices in the United States are <a class=\"css-yywogo\" href=\"https:\/\/www.rand.org\/news\/press\/2024\/02\/01.html\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">three times as high<\/a>, on average, as those in peer nations.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">That is in spite of the fact that much of the research that leads to new drugs takes place in American laboratories and hospitals.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Drugmakers generate a <a class=\"css-yywogo\" href=\"https:\/\/schaeffer.usc.edu\/wp-content\/uploads\/2024\/10\/01.2018_Global20Burden20of20Medical20Innovation.pdf#page=5\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">substantial majority<\/a> of their worldwide profits from sales in the United States and typically design their business strategy around the U.S. market.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-5\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">Pharmaceutical companies argue that the higher prices in the United States come with added benefits: Industry-funded analyses have found that patients in the United States get medicines <a class=\"css-yywogo\" href=\"https:\/\/phrma.org\/-\/media\/Project\/PhRMA\/PhRMA-Org\/PhRMA-Refresh\/Report-PDFs\/A-C\/2023-04-20-PhRMA-Global-Access-to-New-Medicines-Report-FINAL-1.pdf\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">faster<\/a>, and with fewer insurance restrictions, than those in other countries.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">In other wealthy countries, the government generally pays for prescription drugs for the entire population, negotiating substantial discounts from drugmakers. Many other nations <a class=\"css-yywogo\" href=\"https:\/\/pmc.ncbi.nlm.nih.gov\/articles\/PMC10373031\/\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">do their own comparisons<\/a> with prices in peer countries to help determine what they are willing to pay.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">But in the United States, the government has very little formal involvement in setting drug prices, other than the Biden-era program for a limited number of drugs in Medicare. The Trump administration is now overseeing that program.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">This month, Senator Josh Hawley, a Republican from Missouri, and Senator Peter Welch, a Democrat from Vermont, introduced a bill that would limit drug prices in the United States to an average of the prices paid by a group of peer countries.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">In an interview, Mr. Welch said he agreed with Mr. Trump that Americans are overpaying for drugs and that international comparisons could help set fairer prices. But he thinks Congress needs to tackle the issue to ensure a durable policy.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">\u201cIt\u2019s really important to do this legislatively,\u201d he said.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.nytimes.com\/2025\/05\/12\/health\/trump-drug-prices.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Trump on Monday signed an executive order asking drugmakers to voluntarily reduce the prices of key medicines in the<\/p>\n","protected":false},"author":1,"featured_media":25208,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[38],"tags":[114,139,133,884,135,138,338,134,219,113,111],"class_list":["post-25207","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-science","tag-donald-j","tag-drugs-pharmaceuticals","tag-executive-orders-and-memorandums","tag-federal-budget-us","tag-fees-and-rates","tag-health-insurance-and-managed-care","tag-international-trade-and-world-market","tag-prices-fares","tag-regulation-and-deregulation-of-industry","tag-trump","tag-united-states-politics-and-government"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Trump Signs Executive Order Asking Companies to Lower Drug Prices - 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