Trump signs order to cut US drug prices

An executive order signed by US President Donald Trump on Monday mandates that pharmaceutical companies match the prices of prescription drugs in the US with those in other industrialized nations, according to Xinhua.

The directive instructs Robert F. Kennedy Jr., secretary of health and human services, to establish a system that would enable Americans to buy drugs directly from producers at the best price available abroad, avoiding intermediaries.

 “We are going to pay the lowest price there is in the world,” Trump said. “Whoever is paying the lowest price, that’s the price that we’re going to get ”, Xinhua reported.

Targeting the significant pricing differential between the United States and other members of the Organization for Economic Co-operation and Development (OECD), a group of primarily wealthy countries, is the goal of the action. Brand-name medications cost more than three times as much in the US as in those other nations.