“We’re going to equalize,” Trump said. “We’re going to pay what Europe pays.”
President Donald Trump on Monday signed an executive order giving drugmakers 30 days to voluntarily lower prescription drug prices in the U.S., or face future federal payment limits.
The order tasks Health Secretary Robert F. Kennedy Jr. with negotiating new prices, or else creating a rule tying U.S. prices to those in other countries.
“We’re going to equalize,” Trump said. “We’re going to pay what Europe pays.”
The pharmaceutical industry criticized the move, with PhRMA CEO Stephen J. Ubl calling it “a bad deal for American patients.”
Experts, including Rachel Sachs of Washington University, noted that Americans are unlikely to see immediate savings. The order mostly affects Medicare and Medicaid, not private insurance plans.
Trump blamed foreign governments for high U.S. drug costs, despite threatening federal investigations into pharmaceutical companies. The administration did not offer details on potential savings, but said meetings with drugmakers will occur over the next month.