![]() | ![]() |
US President Donald Trump to announce his policy to reduce the prices of prescription drugs and pharmaceuticals by 30 to 80 percent with immediate effect. The new policy will help the domestic market in America to get a boost.
In a post on his social media network "Truth Social” Trump wrote, “For many years the World has wondered why Prescription Drugs and Pharmaceuticals in the United States of America were so much higher in price than they were in any other nation, sometimes being five to 10 times more expensive than the same drug, manufactured in the exact same laboratory or plant, by the same company???”
“I will be signing one of the most consequential Executive Orders in our Country’s history. Prescription Drug and Pharmaceutical prices will be reduced, almost immediately, by 30 percent to 80 percent,” wrote Trump.
The US imports a large number of pharmaceutical products from China, a major supplier of generic pharmaceuticals. In 2022, the United States imported approximately USD 7.2 billion worth of pharmaceuticals from China. Trump said the United States will pay the same price as the Nation that pays the lowest price anywhere in the World.
According to a report published by the Coalition For A Prosperous America, in 2022, US imports of Chinese-made pharmaceuticals increased by 485 percent as compared to 2020.
Trump expressed hope that the new policy will help the drug market in America grow. He said, "Additionally, on top of everything else, the United States will save trillions of dollars.”
Last news about this category
We use our own and third party cookies to produce statistical information and show you personalized advertising by analyzing your browsing, according to our COOKIES POLICY. If you continue visiting our Site, you accept its use.
More information: Privacy Policy