President Trump to Sign Executive Order Cutting Prescription Drug Costs Up to 80 Percent

TRUMP: For years, Americans have paid significantly more for prescription drugs than patients in other nations

WASHINGTON, DC – President Donald Trump announced plans to sign an executive order on Monday that will slash prescription drug prices in the United States by as much as 30% to 80%, bringing what he called “long-overdue fairness” to American consumers.

The announcement, made Sunday via his social media platform Truth Social, criticized longstanding price disparities between the U.S. and other countries, where the same medications—often produced by the same manufacturers—are sold for far less.

“For years, Americans have paid significantly more for prescription drugs than patients in other nations, sometimes five to ten times more,” President Trump wrote.

He attributed the issue in part to pharmaceutical companies citing research and development costs, which he said unfairly burdened U.S. consumers.

President Trump said the new executive order will enact a “Most Favored Nation” pricing policy, meaning the U.S. would only pay the lowest price available globally for certain prescription drugs.

He emphasized that the move would bring “unprecedented reductions” in healthcare costs for Americans and save the federal government trillions of dollars over time.

“This is one of the most consequential executive orders in our country’s history,” said President Trump, adding that the order is scheduled to be signed at the White House at 9 a.m. Monday.

The order builds on a previous directive issued last month that seeks to standardize Medicare payments for medications regardless of where treatment is received. According to a White House fact sheet, the policy could reduce costs for cancer patients and others by up to 60%.

Among its key provisions, the order includes:

■ Medicare Alignment: Matching Medicare reimbursements for certain drugs to the prices paid by hospitals, potentially reducing costs by up to 35%.

■ Insulin and Epinephrine Access: Lowering insulin prices for low-income and uninsured patients to as low as three cents per dose, and reducing epinephrine injector costs to $15, plus a minimal administrative fee.

■ Drug Importation Programs: Supporting state-level efforts to import lower-cost medications from abroad.

■ Support for Medicaid Drug Deals: Enhancing initiatives to help states secure better pricing on critical medications, including those for sickle cell disease.

The order also calls on the Department of Health and Human Services, now led by Robert F. Kennedy Jr., to open public comment on Medicare’s drug price negotiation program.

This initiative, originally established under the Biden administration’s Inflation Reduction Act, allows Medicare to directly negotiate prices with pharmaceutical companies.

Prescription drug prices have been steadily rising. According to the Department of Health and Human Services, average prices increased more than 15% from January 2022 to January 2023, with nearly half of the tracked drugs outpacing inflation.

Trump acknowledged that prices might increase globally as a result of the U.S. policy shift but emphasized that the measure would finally bring fairness and affordability to American consumers.

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