President Donald Trump said he asked major pharmaceutical companies to take steps to cut U.S. drug prices within the next 60 days. On Truth Social, Trump posted individual letters he sent 17 drugmakers, including Eli Lilly, GSK, Pfizer, Regeneron, Merck, Pfizer and Novo Nordisk.

Washington

President Trump has demanded that major drug manufacturers lower the prices they charge Americans within 60 days. In letters sent to pharmaceutical companies, he requested that they offer their full range of drugs to Medicaid patients at the same prices paid by foreign buyers, invoking the 'most favored nation' rule. The president also called for newly approved medicines to be made available to Medicare, Medicaid, and private insurance patients at these lower overseas prices, and asked companies to provide direct-to-consumer options for certain drugs.

The proposal is expected to face significant opposition from the pharmaceutical industry. Experts have raised questions about the president's authority to enforce such measures without Congressional approval. Some commentators have also expressed concerns that imposing price controls could negatively impact pharmaceutical innovation in the United States, referencing similar outcomes in Europe.

Trump demands drugmakers slash prices within 60 days

President Trump demanding that major drug makers lower the prices that they charge Americans in the next 60 days. In a series of letters sent yesterday, the president told companies to offer the full portfolio of their drugs to Medicaid patients at the same prices paid abroad. This is what's known as most favored nation rule. Trump also told drug makers to guarantee that Medicare, Medicaid and private insurance patients get the same lower overseas prices for all newly approved medicines, and he demanded companies create a direct-to-consumer option for certain drugs. The efforts are likely to be met, obviously, with fierce pushback from the pharma industry. Experts say it's also unclear whether the president has the authority to force drug makers to lower their prices without the help of Congress. We're going to talk more about this next hour with former FDA Commissioner Dr. Scott Gottlieb, and I don't know what the answer is, but we're importing price controls. I guess once the price controls were being levied in Europe is when, I guess, pharmaceutical makers should have taken a stand probably back then. Once it happens over there, you can see why the president says, why should they, their citizens get these prices when ours are paying 10 times as much. So fine. For the drugs that have already been developed, maybe we're able to keep those. But long-term, I just, you see about innovation for drugs over in Europe. There's been almost none, and that's why they want, you know, defense and research and development. People want Europe and, you know, overseas to step up their play because it's really harmed innovation. Is that going to happen here on the future drugs? Why wouldn't it happen here? So this could be, the unintended consequence of this could be that we don't have innovation anymore in this country, and price controls never work. And I don't see how you, do you look at these as anything, this as anything other than price control? No. No, but look, there's a fairness argument. That's what I mean, and it's a populist argument. But we should. I'm with you. I worry about innovation. We should have, when it started happening over there, and it's been happening for years where people get drugs for a tenth of the price, why? Right. They didn't even develop them over there. There's one thing with countries that are not as developed as us, but when you're talking about developed nations where they can and should be able to afford prices, that's a different story. What should the drug companies have said to, like, the EU when they were passing laws for the price control? Right. I don't know. I don't know. But, you know, now that horse has left the barn, the toothpaste has left the tube, Humpty Dumpty has already fallen off the wall, you've already made an omelet, you've already cracked the egg. Did I say toothpastes? You've already done it. You did that one. Genie's already out of the bottle? Did I do that one? I don't know, but I think there's some earnings that are coming out of the bottle.

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