President Trump Urges Major Drugmakers to Lower U.S. Prices to International Levels by September

On Thursday, President Trump took a bold stance by reaching out to 17 leading global pharmaceutical companies, urging them to lower certain U.S. drug prices to match the lower rates they offer in other developed nations by the end of September. While his tone was firm, the administration clarified that these requests are voluntary, as there is no legal authority currently in place to enforce price reductions. In his correspondence, Trump warned that if pharmaceutical firms decline to comply, the government will utilize all available measures to safeguard American consumers from ongoing unfair drug pricing practices. Since issuing an executive order in May aimed at reducing drug costs, several companies have proposed plans to negotiate, but Trump dismissed these as insufficient, accusing them of shifting blame and seeking policy changes that could lead to significant financial benefits for the industry. Additionally, new tariffs of 15% on imported medicines from Europe—potentially effective as soon as August—may hinder these efforts by increasing costs for major pharmaceutical companies, which often produce key drugs in Europe. This could result in higher prices for American patie...