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President Trump signs executive orders aimed at cutting prices of prescription drugs

JUL 25, 2020 4:49 PM CDT

U.S. President Donald Trump signed four executive orders on Friday to lower the price Americans pay for prescription drugs.

A White House statement said the executive orders focus on several cost-cutting measures. 

  • The first executive order signed by the president aims to have consumers benefit from the “massive discounts” received by “qualified health centers” for insulin and epinephrine. 
  • A second executive order targets speeding up the importation of drugs from Canada.
  • A third executive order seeks to eliminate “secret deals” between drug manufacturers and “pharmacy benefit manager middlemen” so patients get the benefit of discounts.
  • A fourth executive order, one that involves having Medicare pay the same prices paid by other nations for Medicare Part B drugs, the prescriptions U.S. hospital patients receive, will not be implemented until the president and pharmaceutical industry executives try to work out an agreement. President Trump is giving them until 

Aug. 24 to make a deal.

The president said pharmaceutical executives will be meeting with him on Tuesday at the White House. “We may not need to implement the fourth executive order, which is a very tough order,” he said.

According to the Organization for Economic Cooperation and Development, prescription drugs cost people living in the U.S. more than they do for people living in any other developed nation.

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