Washington, May 24
The US Trade Representative (USTR) has kicked off a process to collect public comments on cases of the suppression of pharmaceutical product prices below market value in foreign countries, as it seeks to stop what it calls "freeloading" on US-financed medical research.
The USTR's efforts to collect comments by June 27 came after President Donald Trump signed an executive order earlier this month to lower the cost of prescription drugs for American citizens to match prices paid in other countries, reports news agency.
The move spawned concerns that South Korean pharmaceutical firms could come under U.S. scrutiny, given that the USTR has taken issue with the Asian country's pricing policies for pharmaceuticals.
"USTR invites comments from interested parties regarding any act, policy, or practice that may be unreasonable or discriminatory or that may impair United States national security and that has the effect of forcing American patients to pay for a disproportionate amount of global pharmaceutical research and development," it said on a public docket.