President Donald Trump announced on Monday plans to reduce prescription drug costs by 30-80%.
In a post regarding the True Society, Trump pointed out that “for many years, the world has seen prescription and pharmaceutical drugs as incredibly expensive, especially since they are pricier in the US than in any other country.”
He also took aim at pharmaceutical companies and Democrats in the same post.
“Pharmaceutical companies have been claiming research and development costs for years, and the American public has borne these costs unnecessarily,” Trump stated. “While campaign contributions can be substantial, we aim to do the right thing regardless of party lines; Democrats have opposed us for many years.”
“We’re excited to announce that tomorrow morning at 9 a.m. at the White House, we will sign one of the most significant executive orders in our nation’s history,” Trump added. “Prices for prescription drugs will decrease by 30% to 80% almost immediately.”
Trump further remarked that prescription and pharmaceutical drug prices “will align globally, providing equity to Americans for the first time in many years.”
“I will implement a policy ensuring the US pays the same price as the country with the lowest prices worldwide,” Trump continued. “Ultimately, our citizens will receive fair treatment, and healthcare costs will not be reduced as they have in the past.”
A White House fact sheet from April stated that Trump signed an executive order directing the Department of Health and Human Services (HHS) to “take measures to significantly lower drug prices for American patients.”
This executive order also “offers substantial discounts to low-income patients,” such as for insulin, and aims to “reduce drug prices” through initiatives that promote insulin and “import programs that save states millions on prescription drug expenses.”
