President Donald Trump revealed that he would be signing an executive order on Monday reducing the cost of prescription and pharmaceutical drugs by 30 to 80 percent.
In a post on Truth Social, Trump pointed out that “for many years the World has wondered why” prescription and pharmaceutical drugs are so much more expensive in the U.S. than they are “in any other nation,” adding that sometimes they are “five to ten times more expensive than the same drug, manufactured in the exact same laboratory or plant, by the same company.”
Trump also criticized the pharmaceutical and drug companies and the Democratic Party in his post.
“The Pharmaceutical/Drug Companies would say, for years, that it was Research and Development Costs, and that all of these costs were, and would be, for no reason whatsoever, borne by the ‘suckers’ of America, ALONE,” Trump said. “Campaign Contributions can do wonders, but not with me, and not with the Republican Party. We are going to do the right thing, something that the Democrats have fought for many years.”
“I am pleased to announce that Tomorrow morning, in the White House, at 9:00 A.M., I will be signing one of the most consequential Executive Orders in our Country’s history,” Trump said. “Prescription Drug and Pharmaceutical prices will be REDUCED, almost immediately, by 30% to 80%.”
Trump added that the cost of prescription and pharmaceutical drugs would “rise throughout the World in order to equalize and, for the first time in many years, bring FAIRNESS TO AMERICA!”
“I will be instituting a MOST FAVORED NATION’s POLICY whereby the United States will pay the same price as the Nation that pays the lowest price anywhere in the World,” Trump continued. “Our country will finally be treated fairly, and our citizens Healthcare Costs will be reduced by numbers never even thought of before.
A fact sheet from the White House in April revealed that Trump had signed an executive order directing the Department of Health and Human Services (HHS) “to take steps to significantly reduce drug prices for American patients.”
Trump’s executive order also “provides massive discounts to low-income patients for life-saving medications,” such as insulin and “helps states reduce drug prices” through the facilitation of “importation programs that could save states millions in prescription drug costs.”
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