Washington, May 13
US President Donald Trump signed an executive order aimed at lowering drug prices, demanding that drug companies offer prices for prescription drugs comparable to those in other developed nations.
"The Order instructs the Administration to communicate price targets to pharmaceutical manufacturers to establish that America, the largest purchaser and funder of prescription drugs in the world, gets the best deal," the order said.
Health and Human Services Secretary Robert F. Kennedy Jr. will establish a mechanism through which American patients can buy their drugs directly from manufacturers who sell to Americans at a "Most-Favored-Nation" price, bypassing middlemen, it continued.
"We are going to pay the lowest price there is in the world. Whoever is paying the lowest price, that's the price that we're going to get," Trump told reporters at the White House on Monday, before departing for the Middle East.
Trump said drugmakers would have to lower their US prices to the level paid by other developed countries, or could face investigation, Xinhua news agency reported.
According to recent data, the prices Americans pay for brand-name drugs are more than three times the price other OECD nations pay, even after accounting for discounts manufacturers provide in the United States, the order noted.
OECD stands for the Organisation for Economic Co-operation and Development, with the majority of its members being developed nations.
The United States has less than five percent of the world's population, yet funds roughly 75 per cent of global pharmaceutical profits, according to the order.
— IANS
Reader Comments
Interesting move by Trump! In India, we already have strict price controls on essential medicines through NPPA. Maybe US can learn from our model. But will pharma companies reduce R&D if profits fall? 🤔
Finally! American citizens have been paying too much while we get the same drugs at fraction of cost. Hope this doesn't lead to price hikes in other countries though. Indian generics must remain affordable for our people.
Trump's order is good in principle but implementation will be tough. Big Pharma has deep pockets and political influence. In India, we've seen how companies find loopholes in price control policies.
As someone whose father needs imported cancer drugs, I understand the pain of high medicine costs. But will this affect availability of new drugs? Many breakthrough medicines come from US research funding.
The US paying 3x more than other countries is shocking! In India, we have Jan Aushadhi stores providing affordable medicines. Maybe time for America to learn from developing nations about healthcare access.
While I support lower drug prices, this seems like political drama before elections. Real change needs proper policy, not just executive orders. Our Indian pharma industry should watch this closely - could impact exports.
Here are 6 diverse Indian perspective comments on the US drug pricing executive order: We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.