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Trump signs order aiming to slash US drug prices to match those abroad (www.theguardian.com)

submitted 12 hours ago by cm0002@lemmy.world to c/usa@midwest.social

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The White House is unveiling an aggressive drug pricing strategy targeting pharmaceutical companies, promising to dramatically cut prescription drug costs for American consumers.

Donald Trump condemned the current pricing system as a “redistribution” that has allowed drugmakers to exploit US patients and signed an executive order that he says will lead to matching lower drug prices abroad.

“We are subsidizing others’ healthcare, where they paid a small fraction of what we pay,” the president said in a press conference on Monday, flanked by health and human services secretary Robert F Kennedy Jr and centers for Medicare and Medicaid services administrator Mehmet Oz.

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[–] GuyFawkes@midwest.social 5 points 11 hours ago

Doesn’t sound very “free market” to me - I assume all of his ideologues will decry this on principle?

🤣🤣🤣

[–] ButtermilkBiscuit@lemm.ee 5 points 12 hours ago* (last edited 12 hours ago)

It's right in the article - other countries negotiate favorable prices because they provide universal healthcare for their citizens and can demand prices we can't in the US because of our system of individual purchasers. How exactly will this fix pricing? Drug makers will leave our market before they sell at a loss. This is another dumb fuck move from the clown patrol.