President Trump's latest approach to lower drug prices relies on a 'most-favored-nation' policy, requiring U.S. drug prices to match lower costs paid by other developed countries. This comes as a response to high U.S. prices that allegedly subsidize drug affordability abroad, which Trump argues unfairly burdens American patients. While criticizing foreign practices that he claims extort U.S. companies, Trump aims to reduce specific drug prices potentially by 50% to 90% and plans to eliminate intermediaries in the pricing process. The initiative will be managed by the Department of Health and Human Services.
"Whatever the price paid for a drug in other developed countries, that is the price that Americans will pay."
"High drug prices in the U.S. subsidize low drug prices in foreign markets, an imbalance that amounts to other countries getting a 'free ride' off of American innovation."
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