Trump Demands 17 Drugmakers Cut Prices Within 60 Days or Face Consequences

President Donald Trump is intensifying his push to reduce drug costs in the United States, demanding that 17 major pharmaceutical companies lower their prices within 60 days.

In letters sent Thursday to the companies’ CEOs, Trump called on manufacturers to extend “Most Favored Nation” pricing—the lowest price charged for a drug in a peer country—to all medications sold through Medicaid. He also urged companies to guarantee similar pricing for Medicare and private insurers for new drugs.

The directive stems from a May executive order in which Trump insisted that American patients deserve access to the same lower prices seen in other developed countries. He criticized previous proposals from drugmakers as inadequate, saying they focused on shifting blame rather than providing immediate relief.

“Moving forward, the only thing I will accept from drug manufacturers is a commitment that provides American families immediate relief from the vastly inflated drug prices,” Trump wrote, warning, “If you refuse to step up, we will deploy every tool in our arsenal to protect American families.”

The May order outlined possible consequences for noncompliance, including expanded drug importation, changes to FDA approvals, and new tariffs on pharmaceutical imports.

The letters have already impacted the market, with shares of several companies, including Eli Lilly, Merck, Johnson & Johnson, GSK, and Amgen, dropping between 1% and 4% in afternoon trading.

While it remains unclear how much authority the administration has to impose pricing standards without congressional approval, the move marks one of Trump’s strongest actions yet against high drug costs.

Credit: CNN Newsource

Explore: NBCPalmSprings.com, where we are connecting the Valley.