Donald Trump signs executive order to slash prescription drug prices
US President Donald Trump has signed an executive order aimed at lowering the cost of prescription drugs.
The plan could have international ramifications as pharmaceutical companies consider raising the price of medication globally to balance the market.
The United States aims to offer the same price offered by the nation that pays the lowest for the medication.
“Starting today, the United States will no longer subsidise the health care of foreign countries,” President Trump said.
The move is expected to bring intense pushback from the pharmaceutical industry, which argues any loss in profit will slow down innovation and research and force an increased reliance on China.
