Trump to slash pharmaceutical prices by 80%
Former U.S. President Donald Trump has reignited his campaign to reform the American healthcare system with a dramatic pledge to lower the cost of prescription drugs and pharmaceutical products. Trump announced on Sunday that he would sign a sweeping executive order aimed at reducing drug prices by as much as 80%, a move he described as “one of the most consequential in U.S. history.”
“Prescription Drug and Pharmaceutical prices will be reduced, almost immediately, by 30 percent to 80 percent. Prices will rise throughout the world in order to equalise and, for the first time in many years, bring fairness to America.”
The order is set to be signed at 9 a.m. (1300 GMT) on Monday, and though full details remain under wraps, the announcement has already sparked waves across both political and pharmaceutical sectors.
Trump’s Renewed Focus on Drug Prices Ahead of 2024 Election
Trump’s latest move appears to be part of a broader strategy to reassert his leadership on issues that deeply affect American households—especially with healthcare and inflation dominating public concern ahead of the 2024 presidential election.
The former president had previously attempted to bring down prescription drug prices during his first term in office. One of his key proposals involved using international reference pricing—often referred to as a “most favored nation” policy—where the U.S. would only pay the lowest price offered globally for certain medications. That effort, however, was blocked due to legal and political opposition, and the plan never took effect.
This time, Trump is doubling down. In his Sunday post, he stated that the executive order would implement a similar “most favored nation” policy, ensuring that Americans pay no more than what other countries pay for the same medications.
“This executive order is about fairness and putting American patients first,” Trump said.
The cost of prescription drugs in the United States remains among the highest in the world. Unlike many countries with centralized price regulation for medications, the U.S. has long allowed the pharmaceutical industry to largely dictate prices. The government has had limited influence—particularly outside of federally funded programs like Medicare.
As a result, American consumers often face exorbitant out-of-pocket costs, especially for life-saving medications like insulin or EpiPens. Industry watchdogs and patient advocacy groups have repeatedly criticized the pharmaceutical industry for prioritizing profits over public health.
Despite the bold claims, Trump’s announcement is already drawing skepticism from analysts and stakeholders. The pharmaceutical industry, which has long lobbied against price controls, is expected to challenge the executive order through both legal channels and public relations campaigns.
“There’s no doubt that the pharmaceutical lobby will oppose any move that threatens their pricing power,” said a healthcare policy expert from the Brookings Institution. “If Trump pushes forward, he’ll need robust legal backing and bipartisan support to make it stick.”
While drug pricing is not a new issue, it remains a political hot potato in Washington. President Joe Biden made headlines in 2022 when he signed the Inflation Reduction Act, which authorized Medicare to negotiate prices for certain prescription drugs—a historic win for Democrats.
Biden’s measure, which focuses specifically on older adults, was hailed as a major step forward in curbing pharmaceutical costs. However, critics argue that it doesn’t go far enough and leaves younger Americans largely unprotected.
Trump, in contrast, is positioning his proposal as more sweeping and immediate, suggesting that the current administration hasn’t done enough.
“Democrats had their chance, and they failed to deliver for working families,” Trump claimed. “We will finish what we started and make prescription drugs affordable for everyone.”
It remains to be seen how much of Trump’s new executive order will be implemented—and how quickly. Given his track record and the resistance from pharmaceutical companies, legal battles are likely. However, even the announcement alone signals that drug pricing will once again be a centerpiece of political debate.
Health policy experts suggest that if Trump returns to office, this issue could be a cornerstone of his second-term agenda. For millions of Americans struggling with high prescription costs, the question now is whether this promise will become reality.
Source – PUNCH
