“We are bringing fairness to America” – Trump Vows To Slash Drug Prices

Published 7 months ago3 minute read
Owobu Maureen
Owobu Maureen
“We are bringing fairness to America” – Trump Vows To Slash Drug Prices

In a tweet that's circulating like wildfire, U.S. President Donald Trump announced his plan to sign a major executive order aimed at reducing the cost of prescription drugs and pharmaceuticals in the United States.

For years, Americans have asked one question: Why are prescription drugs so damn expensive here? Why is it that the same drug, made in the same lab, by the same company, costs five to ten times more in the United States than it does elsewhere?

Pharmaceutical companies in the U.S. largely set their drug prices with little government constraint, unlike many other countries that regulate their prices. Brand-name drugs in the U.S. tend to carry higher prices, and this is due to laws like the 2003 Medicare Part D legislation.

The 2003 Medicare Part D legislation, officially called the Medicare Prescription Drug, Improvement, and Modernization Act, created Medicare Part D, which provides prescription drug coverage to Medicare beneficiaries. It allowed private insurance companies to offer drug plans and included subsidies for low-income seniors. A key and controversial aspect of the law is that it banned Medicare from negotiating drug prices, leading to higher drug costs in the U.S. compared to other countries.

Whenever they were asked why the prices of drugs were so high, they would pull the research and development costs card. Now, President Donald Trump says enough is enough.

In the fiery announcement, Trump called out Big Pharma’s pricing game and the political power that has protected it for years, adding that at exactly 9:00 A.M on Tuesday, he’ll be signing what he calls one of “the most consequential Executive Orders in American history.”

The Slash order will reportedly slash prescription drug prices by 30% to 80%, thereby introducing what he calls the Most Favoured Nation’s Policy, which means America will only pay the lowest price that any other country pays for the same drug. No more being the sucker in the room. No more bending to Big Pharma's whims while other countries get discounts.

“This will bring fairness to America,” Trump declared. “It’s something the Democrats talked about for years, but never did. We’re doing it now.”

Whether you love him or not, this move is bold. Pharmaceutical companies are already sharpening their knives. Experts say the impact could be massive, potentially saving trillions of dollars in healthcare spending and shaking the global pricing model to its core.

The world will be watching. And for the first time in a long time, the drug price fight might just be getting personal. So what do you think - bold move or political bluff?


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