Trump signs 30-day drug price reduction order
President Donald Trump on Monday signed a sweeping executive order giving drugmakers 30 days to voluntarily reduce the cost of prescription drugs in the United States of America or face new federal pricing limits.
“The cost of prescription drugs must come down, or there will be consequences,” Mr Trump said during a morning news conference.
He added, “We’re going to equalise. We’re all going to pay the same. We’re going to pay what Europe pays.”
The executive order directed the Department of Health and Human Services, led by Robert F. Kennedy Jr., to negotiate lower drug prices within the next month.
If agreements were not reached, Kennedy would be tasked with drafting a new rule that tied U.S. drug prices to the lower prices paid by other countries.
While the move marked an aggressive push to lower drug costs, its impact on Americans with private insurance remained unclear.
The federal government’s strongest influence over drug prices lied in Medicare and Medicaid, where it controlled significant purchasing power.
The announcement came hours after the Republican-led House unveiled a plan to cut 880 billion dollars from Medicaid, raising further questions about the long-term impact of Mr Trump’s order on healthcare affordability.
(AP/NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
States
Niger: Police rescue two suspected phone thieves from mob
He identified the suspects as Hassan Abdullahi, 20, and Khalifa Bashir, 22.
Heading 5
Court of Appeal nullifies Electoral Act provisions on parties’ primary election, membership register
Zenith Party argued that the disputed Electoral Act provisions unlawfully interfered with the internal affairs of political parties.
Lagos
Governor Sanwo-Olu inaugurates climate investment fund
Mr Sanwo-Olu described the fund as a landmark intervention.
States
Judiciary partners revenue board to boost IGR in Taraba
Mr Agya commended the service for its reforms.
NationWide
NRC reaffirms police partnership to protect rail assets
Mr Opeifa described the nation’s railway infrastructure as critical national assets that must be safeguarded.
