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WASHINGTON (Reuters) – U.S. President Donald Trump said on Sunday he had signed a new executive order aimed at lowering drug prices in the United States by tying them to those of other nations.
“My most-favored-nation order will ensure that our country gets the same low price that Big Pharma offers other countries. The days of global freeride at America’s expense are over,” Trump said in a Twitter post.
The White House on Sunday provided a text of the executive order, which does not appear to be a newly signed document. It was dated July 24.
The Republican president signed an executive order in July that, among other things, would require Medicare, the government’s health care program for the elderly, to link the prices it pays for drugs to those paid by other countries. However, its implementation was delayed as the administration tried to find a solution with the industry.
Three more executive orders were signed in July, designed to lower drug costs for consumers in an attempt to highlight their commitment to lower prescription drug prices ahead of the November 3 presidential election.
The orders ranged from relaxing drug import rules to cutting Medicare payments to drug manufacturers, but experts said they are unlikely to take effect any time soon. Similar proposals from the Trump administration stalled amid the industry setback.
(Reporting by Doina Chiacu; Editing by Nick Zieminski and Peter Cooney)
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