Executive Order to Reduce Drug Prices in America
President Donald Trump signed an executive order to reduce drug prices in America to rates similar to other nations. The order aims to stop subsidizing foreign countries' healthcare and tackle profiteering and price gouging from Big Pharma.
Key Points
- Order directs Commerce Secretary and U.S. Trade Representative to ensure fair market prices
- Allows Americans to purchase drugs at 'Most Favored Nation' prices
- Empowers Health and Human Services Secretary to propose rules on pricing
Pros
- Reducing drug prices for American consumers
- Stopping subsidization of other countries' healthcare
- Tackling profiteering and price gouging from pharmaceutical companies
Cons
- Potential impact on pharmaceutical companies' profits
- Uncertainty about the effectiveness of the order in reducing drug prices