Trump moves forward with executive action to lower drug costs

President Trump on Sunday announced his intention to move forward with an executive order he signed in July that intends to lower the price of prescription drugs.

Trump said that the order seeks to have the government purchase drugs at the same prices given to countries designated as “favored nations” because they have a competitive disadvantage on a specific product.

“My Most Favored Nation order will ensure that our Country gets the same low price Big Pharma gives to other countries,” Trump wrote.

“The days of global freeriding at America’s expense are over and prices are coming down FAST! Also just ended all rebates to middlemen, further reducing prices.”

The action seeks to have Medicaid drug prices “drawn from the lowest price among members of the Organization for Economic Cooperation and Development that have a similar per-capita gross domestic product,” according to Politico.

The executive order signed in July was one of four aimed at lowering the price of drugs for seniors before Election Day.