Trump signs executive orders to lower drug prices

Posted on July 27, 2020

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Source: CBS News

President Trump signed multiple executive orders on Friday aimed at lowering the cost of prescription drugs such as insulin.

The executive orders the president signed will require discounts on insulin and EpiPens that were given to some hospitals to be passed on to patients; and speed up a proposal to import prescription drugs from Canada and other countries for pharmacies, wholesalers and states. The president said the changes should eliminate the "middlemen" in drug purchases.

"The middlemen are making a fortune," Mr. Trump said.

Mr. Trump said drug company executives will be at the White House on Tuesday and if they don't agree on a solution, an executive order will go into effect to make sure Medicare plans pay the lowest price on the international pharmaceutical market.

Americans pay more for prescription drugs each year than people in any other developed country in the world, according to the Organization for Economic Cooperation and Development.