By Ariana Figueroa | AZ Mirror
President Donald Trump signed an executive order Monday aimed at lowering drug prices by pressuring pharmaceutical companies to align their U.S. pricing models with those in similarly wealthy countries.
“We’ll slash the cost of prescription drugs and will bring fairness to America,” Trump said at a morning White House event. “We’re all gonna pay the same.”
The executive order, which the White House dubbed the “most-favored-nation” policy, gives pharmaceutical companies 30 days to negotiate lower drug prices with the government.
If no deal is reached in that time, Trump said a new rule will be set so that the United States will have a price model similar to the lower rates patients abroad pay. According to the executive order, Health and Human Services Secretary Robert F. Kennedy Jr. would be responsible for the rulemaking “to impose most-favored-nation pricing.”
“We are going to pay the lowest price there is in the world,” Trump said.
Prescription pricing for brand-name drugs in the U.S. is more than four times higher than in similar countries, according to a 2024 study by the nonpartisan research nonprofit RAND.
