EU and the world

Trump plans to force pharmaceutical companies to reduce drug prices by up to 80%

US President Donald Trump announced his intention to sign an executive order that would oblige pharmaceutical companies to reduce drug prices by 30-80%. About this informs Financial Times.

According to Trump, the policy of “most favored nation” will be implemented in the USA:

“The United States will pay the same price as the country that pays the lowest price anywhere in the world.”

After the president’s statement, the shares of a number of Asian pharmaceutical companies fell significantly in price. So, shares of Samsung Biologics lost 4%, SK Biopharmaceuticals — 2.5%, and BeiGene — 7.9%. In the Indian Sun Pharma, the fall was more than 5%.

Trump already tried to implement a similar policy during his previous term, but faced opposition from the pharmaceutical lobby. This time, he emphasized that he will not allow the industry to influence decision-making.

“Campaign contributions can work wonders, but not with me and not with the Republican Party. We’re going to do the right thing, what Democrats have been fighting for for years.” Trump emphasized.

Lobbying organization PhRMA strongly criticized the initiative, saying:

“Government pricing in any form is harmful to American patients.”

The statement notes that a significant portion of the drug’s cost goes to middlemen, who, in the group’s opinion, should be targeted.

Trump rejected arguments about a possible reduction in investment in scientific development due to cheaper drugs:

“Pharmaceutical companies have said for years that these were R&D costs, and that all of those costs were and will be put on America’s ‘shitholes’, ALONE, for no reason at all.”

See also  Germany exported weapons worth 7.48 billion euros in the first half of 2024, most of them to Ukraine

According to him, after the decree enters into force, “our country will finally be treated fairly.”

 

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Back to top button