October 5, 2022

Trump to sign executive order lowering prescription drug prices

President Trump promised that he would take action to lower prescription drug prices for Americans during his first term, and the Hill reported that Trump is poised to sign an executive order fulfilling that promise on Friday. 

Details of the proposed order have yet to be released, but according to one of the Hill’s sources, “one order is likely to include a version of a proposal to reduce some U.S. drug prices by tying them to the lower prices paid in other countries.”

Trump has reportedly invited several GOP lawmakers to a presidential event on drug pricing Friday at 3 p.m., at which time he is planning to make his official announcement.

White House spokesman Judd Deere provided a statement indicating that “the President continues to explore any and all options that will deliver lower-cost drugs, while ensuring we have access to the most innovative vaccines and therapeutics in the world.”

White House Chief of Staff Mark Meadows hinted at the possibility that Trump would take action on the rising costs of pharmaceutical drugs in an interview in early July.

Meadows said at the time that Trump would issue several “executive orders that will actually make a big difference,” within the month of July. So far Trump as delivered on that promise with a bevy of executive orders covering a wide range of policy issues including housing, law enforcement, and now healthcare.

Forbes reported on Friday that the orders Trump is expected to sign Friday afternoon include “a demand to reduce Medicare’s drug payments by attempting to ensure the U.S. doesn’t pay more than any other county (the so-called “favored nations rule”) [and] policies related to the drug discount program known as 340B, that gives hospitals access to steeply discounted medications.”

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