New Delhi, May 12
In a new executive order, US President Donald Trump has vowed to cut the price of prescription drugs and pharmaceuticals in the US between 30 per cent to 80 per cent.
Taking to his social media platform Truth Social, Trump promised to sign the order on Monday morning, and provide Americans relief from high medication costs “almost immediately”.
He also cited years of frustration of US consumers in paying significantly higher prices for medications than people in other countries.
“For many years the World has wondered why Prescription Drugs and Pharmaceuticals in the United States States of America were so much higher in price than they were in any other nation,” Trump said in the post.
“Sometimes being five to 10 times more expensive than the same drug, manufactured in the exact same laboratory or plant, by the same company???”
The new policy is expected to tie the cost of drugs sold in the US to the lowest price paid by any other country for the same drug. It would introduce a “most favoured nation’s policy”, said Trump.
“Our Country will finally be treated fairly, and our citizens' Healthcare Costs will be reduced by numbers never even thought of before,” he added.