Trump asks drugmakers to cut U.S. prices within 60 days

chairman Donald Trump On Thursday, he said that he asked major pharmaceutical companies to take steps to cut American medicine prices within the next 60 days.

On the truth social, on Thursday, Trump posted personal letters which he sent 17 drug manufacturers: Abbi, Amgen, AstrazhenekaBoehringer Ingelheim, Bristle myers squib, Ellie lilyEMD Serono, Gennentac, Gilliad, GSK, Johnson & Johnson, Merk, Novartis, Novo nordisk, Fizer, RegiononAnd Soxy,

Trump threatened to deploy every tool in our arsenal to protect American families from constant derogatory drug pricing practices, if companies refuse to comply with. He asked each company to commit to many of its goals on 29 September.

The letters come after Trump in May, signed an executive order, reviving a controversial plan, known as the “most preferred nation” policy, which aims Slash drug cost To reduce the prices of some drugs in the US significantly abroad. This was Trump’s latest attempt that tries to curb the prices of American prescription drug, which are Average is two to three times more than them According to a public policy think tank Rand Corp, in other developed countries – and 10 times more than some countries.

In letters on Thursday, Trump said that drug manufacturers have proposed possible solutions for high American drug prices. But he said that those proposals “promised more and more: to transfer faults and request policy changes, resulting in billions of dollars in the industry.”

He said that moving forward, he would only accept commitments from drug manufacturers who “provide immediate relief from the prices of drugs bloated to American families and an end for free ride of American innovation by European and other developed countries.” Trump said that a collaborative effort to reduce the prices of American drug would be a “most effective way” for companies, government and patients.

Shares of drug manufacturers fell after the announcement on Thursday. The shares of Bristol Myers Squib and Novo Nordisk fell nearly 5%, GSK and Merc’s stocks fell over 3%and Sanofi’s shares declined by more than 8%.

Here Trump is asking to take companies:

• He asked the drug manufacturers to provide their own portfolio of existing drugs at the lowest price to be offered in other developed nations-or what he says the most preferred country’s price for every Medicade patient.
• Trump also asked companies to contract with the US that Medicare, Medicade, and Commercial Payeers get the most preferred country prices on all new drugs when launching and moving forward.
• He told the companies that he had strict talks to hold strict talks with “foreign freeliding nations”, saying that the US trade policy would try to support that effort. He said that increased revenue abroad for American patients and taxpayers through an agreement with the US “should take back the prices of low drugs”
• He asked drug manufacturers to adopt models that sell their medicines directly to consumers or businesses, which effectively eliminates middlemen and ensure that all Americans get the same most preferred nation prices that companies offer to third party payments.

A PHRMA spokesperson, the largest lobbying group of the industry, did not respond to the request of the comment immediately.

Announced a few days later Astrazeneca said it has proposed the price deduction For some drugs in the US, and that the Trump administration is considering those proposals. Astrazeneca stated that it is directly considering selling some medicines to patients, which is a step that companies such as Ellie Lily, Novo Nordisk, Fizer and Bristol Myers Squib have fought to tolerate drugs in the US.

Drug manufacturers are also working for the President’s employed tariff on imported pharmaceuticals in America