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Drug companies anticipated the announcement of President Donald Trump Pharmaceutical tariffsHowever, instead, he signed an order “better than fear” on Monday. According to New York TimesTrump wants US drug companies to voluntarily reduce US prices.
Although there is no legal authority to accept this, the Trump Office considers to import drugs from other countries or import drugs from other countries.
Sunday, Trump reported in a Truth Social Writing The United States will use the lowest price to pay the same price “the policies of the most popular nation” will use. This caused pharmaceutical shares to rise Monday morning.
“I don’t beat drug companies,” said Trump, Times. “I beat the countries more than drug companies.”
Taking this into account, the executive order also asks Federal agencies why the prices of European countries have low prices. Trump said that these countries will use trade policy to pay more. However, it is not clear how to apply drugs with these governments.
According to pharmaceutical companies, higher medicinal prices in the United States allow people to receive recipes with faster and less insurance limits.
“The most popular nation, the smallest and medium-sized biotechnical companies, the foundation of medical innovation in the United States and the United States, the United States Biotechnology Leader,” CEO of John F. Crowley, Biotechnology Innovation Organization, told a statement.
On the other hand, the CEO of Phrum, the US trade group, which represents medicines, “US patients should not stand the bill for global innovation and pay the fair share of foreign governments for drugs. “
It will only explain that this execution will be applied and that the US medicines will voluntarily reduce their prices for American patients. Meanwhile, we will wait for Trump’s pharmacy Tariff announcement.
