President Donald Trump’s announcement of a plan to sharply cut US prescription drug prices sent shockwaves through the global pharmaceutical industry. This caused a major sell-off in stock markets around the world.
In a Truth Social post found by Bloomberg, Trump promised to reduce drug prices by 59%, bringing them in line with the lowest prices found in other wealthy nations. He called current US drug pricing unfair, saying Americans were being taken advantage of by paying extremely high costs. His “most-favored-nation” policy, as he described it, could reshape the US pharmaceutical market and has created widespread uncertainty and worry among industry leaders.
