THE pharmaceutical industry is bracing for the latest Trump initiative, after the US President announced he would use his executive powers to force pharma companies to reduce the price Americans pay for medicines.
In a Truth Social update posted this morning AEST, Trump said he would sign an order on Mon that would reduce prices "almost immediately" by 30% to 80%, adding that "the United States will pay the same price as the nation that pays the lowest price anywhere in the world".
He attempted to reduce medication costs in his first term, and while good for patients, it was unsurprisingly met with resistance from pharma companies, who tried to sue him, and the proposal ended up being dropped.
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