by Former President Donald Trump announced plans to sign a groundbreaking executive order aimed at cutting prescription drug prices by as much as 80%. Trump shared the news on his social media platform, Truth Social, on Sunday, stating the order would take effect “almost immediately.”
Major Drug Price Cuts Coming Soon
According to Trump, the executive order will reduce the cost of prescription drugs and pharmaceuticals by 30% to 80%, offering significant relief to American consumers. The signing is scheduled for Monday at 9:00 A.M. at the White House.
“For many years, Americans have paid up to ten times more for the same drugs made in the same labs as other countries,” Trump posted. “That ends now.”
Most Favored Nation Policy
The new policy includes a “Most Favored Nation” clause, meaning the U.S. will only pay the lowest global price for any given drug. Trump says this move will finally bring “fairness” to American healthcare and could save the country trillions of dollars over time.
A Blow to Big Pharma?
Trump didn’t hold back in criticizing pharmaceutical companies. He claimed that Americans have long been forced to shoulder research and development costs alone, a problem he blamed on political corruption and special interest influence.
“This order will change that forever,” Trump said, emphasizing that neither he nor the Republican Party is influenced by drug lobbyists.
Additional Executive Orders Already Signed
Last month, Trump signed a separate executive order that standardized Medicare payments for prescription drugs—particularly those for cancer patients—regardless of where treatment occurs. The White House claimed this could lower costs by up to 60%.
The policy also aims to:
- Match Medicare drug payments to hospital prices, potentially cutting costs by up to 35%
- Slash insulin costs to as low as 3 cents for uninsured or low-income Americans
- Cap the price of injectable epinephrine at $15, plus a small admin fee
Supporting State-Level Savings
Trump’s executive action also seeks to empower states to launch drug importation programs that could save millions. It includes measures to help Medicaid secure more affordable treatments, particularly for conditions like sickle cell disease.
HHS Under Robert F. Kennedy Jr.
The Department of Health and Human Services, now led by Robert F. Kennedy Jr., will oversee implementation. The order also calls for public comment on expanding the Medicare Drug Price Negotiation Program, which was originally enacted under the Inflation Reduction Act.
Soaring Drug Prices Prompt Action
Between January 2022 and January 2023, the cost of prescription drugs in the U.S. increased by over 15%, reaching an average of $590 per product. Nearly half of all drug price hikes exceeded the rate of inflation, according to HHS data.
Trump’s latest move appears to be a bold step toward reversing that trend and making medication more affordable for millions of Americans.
