Effective Monday at 9am Eastern, an executive order will be signed that forces drug makers to sell their drugs in the United States market at the same price the drug sells for in the nation that is charged the lowest prices.
Logically, this will raise prices around the world but lower the prices charged here as the American consumers have long funded the research and development of the drugs.
www.zerohedge.com
FULL STORY AT LINK ABOVE ^^^
Logically, this will raise prices around the world but lower the prices charged here as the American consumers have long funded the research and development of the drugs.
Trump Announces Order To Reduce Prescription Drug Prices By Up To 80% | ZeroHedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com
FULL STORY AT LINK ABOVE ^^^
Trump Announces Order To Reduce Prescription Drug Prices By Up To 80%
President Donald Trump announced late on May 11 that he would sign an executive order which would reduce prescription drug prices in the US by 30% to 80% “almost immediately” while also raising drug prices “rise throughout the World in order to equalize and, for the first time in many years, bring FAIRNESS TO AMERICA!”
To achieve that, Trump would institute what he called a most-favored nation policy “whereby the United States will pay the same price as the Nation that pays the lowest price anywhere in the World." Healthcare costs in the US “will be reduced by numbers never even thought of before,” he said.
Trump’s Truth Social post, which was preceded by an earlier one that promised as one of "most important and impactful" statements he has ever issued, didn’t detail how the order would work.
He also didn’t specify potential limits on the policy, such as whether it would apply only to government programs such as Medicare or Medicaid, if it would be limited to certain drugs or categories of drugs or if the White House sees a way to apply this more broadly.
Asian pharmaceutical companies fell in early Monday trading. Japanese drugmaker Chugai Pharmaceutical Co. dropped as much as 7.2%, the most in a month, with peers Daiichi Sankyo and Takeda Pharmaceuticals losing around 5%. In South Korea, SK Biopharmaceuticals Co., Celltrion Inc. and Samsung Biologics Co. all fell over 3%.
Americans pay the most in the world for medicines, fueling innovation and driving the growth of the pharmaceutical industry. Drugmakers have said revamping the system will slash revenue and stifle the development of breakthrough therapies that have the potential to lengthen and improve lives.
Trump cited the industry’s argument, but said it meant that “the ‘suckers’ of America” ended up bearing those costs “for no reason whatsoever.” . . . .
