Trump will sign order to reduce drug prices by up to 80 per cent

Donald Trump declared his intention to sign an executive order to impose a sharp reduction in the cost of medicines in the United States, openly defying opposition from the pharmaceutical industry and reservations expressed by some leading members of the Republican Party.

In a post published Sunday evening on the Truth Social platform, the former president announced that he would sign the measure with the goal of lowering drug prices 'almost immediately, from 30% to 80%'. The US president said that on drugs Europe will have to pay a little more, the rest of the world will have to pay a little more, and the US will pay a little less'. Trump also announced the introduction of a 'most favoured nation' mechanism, whereby the US will pay the same price for drugs as the country where the cost is lowest globally.

It is a proposal similar to the one already made during his first presidential term, which, however, did not materialise due to strong resistance from pharmaceutical companies.

Despite the campaign contributions he received from large pharmaceutical groups and trade associations for his inauguration ceremony, Trump said he would not be swayed. "Campaign donations can work wonders, but not with me and not with the Republican Party," he wrote. "We will do the right thing, something the Democrats have been trying to get for years."

The PhRMA association, which represents major companies in the industry, strongly criticised the proposal, stating that 'any form of government price control is detrimental to American patients'. The organisation added that the real problem that needs to be addressed to reduce the cost of drugs lies in the increasing share of spending that ends up in the hands of middlemen in the supply chain.