President Trump signed an executive order Monday directing U.S. drugmakers to cut their prices by up to 80%. But the order does not include any enforcement mechanisms, and pharmaceutical stocks rose following the news and amid relief within the industry. In a social media post, Trump invoked his “most favored nation” plan that he unsuccessfully tried to enact in his first term, which aims to bring U.S. drug prices in line with other wealthy countries. Vermont independent Senator Bernie Sanders responded, “If Trump is serious about making real change rather than just issuing a press release, he will support legislation I will soon be introducing to make sure we pay no more for prescription drugs than people in other major countries. If Republicans and Democrats come together on this legislation, we can get it passed in a few weeks.”
Trump Executive Order Seeks to Lower Drug Prices, But Offers No Means for Enforcement
