US President Donald Trump has issued a stern warning to top pharmaceutical companies, demanding they lower drug prices in the United States within 60 days.<h2>Trump’s letters to 17 major drug companies</h2>In a series of letters shared on Truth Social on Thursday, Trump revealed he had contacted 17 major drugmakers, including Pfizer, GSK, Eli Lilly, Regeneron, Merck, and Novo Nordisk. The letters came with a clear message. Trump said if the companies fail to act, he would “deploy every tool in our arsenal to protect American families from continued abusive drug pricing practices.”Also read: <a href="https://www.wionews.com/world/-partially-brics-partially-trade-trump-reveals-two-reasons-why-he-slapped-25-tariff-on-india-then-calls-modi-a-friend-1753918294396">‘Partially BRICS, partially trade’: Trump reveals TWO reasons why he slapped 25% tariff on India, then calls Modi a ‘friend’</a><h2>Tying US prices to cheaper international rates</h2>Trump’s message follows his May executive order reviving a controversial plan called the “most favoured nation” policy. Under this plan, the prices of certain prescription medicines in the US would be tied to much lower prices in other developed countries. According to public policy think tank Rand Corp, US drug prices are two to three times higher on average than in other developed nations, and in some cases, up to ten times higher.<h2>Trump accuses drugmakers of ‘shifting blame’</h2>In the letters, Trump criticised the pharmaceutical industry for failing to take responsibility. He said drugmakers had offered proposals to tackle high prices but claimed those “promised more of the same: shifting blame and requesting policy changes that would result in billions of dollars in handouts to the industry.”<h2>What does Trump want now?</h2>Trump made it clear that from now on, he would only consider commitments that deliver immediate relief to American families. He wrote, “American families deserve immediate relief from the vastly inflated drug prices and an end to the free ride of American innovation by European and other developed nations.” Trump added that a joint effort between the government, the pharmaceutical industry, and patients would be the “most effective path” forward.<h2>Pharma industry yet to respond</h2>The Pharmaceutical Research and Manufacturers of America (PhRMA), the industry’s largest lobbying group, has not yet responded to Trump’s letters. Meanwhile, drugmakers are also preparing for the impact of potential new tariffs on pharmaceutical imports into the US, another part of Trump’s wider effort to pressure&nbsp;the&nbsp;industry.

Trump warned 17 major drugmakers, including Pfizer and Merck, to lower US drug prices within 60 days or face strong action, vowing to protect Americans from abusive pricing practices.

US President Donald Trump has issued a stern warning to top pharmaceutical companies, demanding they lower drug prices in the United States within 60 days. Trump’s letters to 17 major drug companies In a series of letters shared on Truth Social on Thursday, Trump revealed he had contacted 17 major drugmakers, including Pfizer, GSK, Eli Lilly, Regeneron, Merck, and Novo Nordisk. The letters came with a clear message. Trump said if the companies fail to act, he would “deploy every tool in our arsenal to protect American families from continued abusive drug pricing practices.” Also read: ‘Partially BRICS, partially trade’: Trump reveals TWO reasons why he slapped 25% tariff on India, then calls Modi a ‘friend’ Tying US prices to cheaper international rates Trump’s message follows his May executive order reviving a controversial plan called the “most favoured nation” policy. Under this plan, the prices of certain prescription medicines in the US would be tied to much lower prices in other developed countries. According to public policy think tank Rand Corp, US drug prices are two to three times higher on average than in other developed nations, and in some cases, up to ten times higher. Trump accuses drugmakers of ‘shifting blame’ In the letters, Trump criticised the pharmaceutical industry for failing to take responsibility. He said drugmakers had offered proposals to tackle high prices but claimed those “promised more of the same: shifting blame and requesting policy changes that would result in billions of dollars in handouts to the industry.” What does Trump want now? Trump made it clear that from now on, he would only consider commitments that deliver immediate relief to American families. He wrote, “American families deserve immediate relief from the vastly inflated drug prices and an end to the free ride of American innovation by European and other developed nations.” Trump added that a joint effort between the government, the pharmaceutical industry, and patients would be the “most effective path” forward. Pharma industry yet to respond The Pharmaceutical Research and Manufacturers of America (PhRMA), the industry’s largest lobbying group, has not yet responded to Trump’s letters. Meanwhile, drugmakers are also preparing for the impact of potential new tariffs on pharmaceutical imports into the US, another part of Trump’s wider effort to pressure the industry.

Trump warned 17 major drugmakers, including Pfizer and Merck, to lower US drug prices within 60 days or face strong action, vowing to protect Americans from abusive pricing practices.

'American families deserve immediate relief': US drug prices too high? Trump threatens crackdown on 17 major pharmaceutical giants

<a href="https://www.wionews.com/world/us-president-donald-trump-seeks-to-override-supreme-court-ruling-on-census-233448">US President Donald Trump</a> on Friday said his administration is working on an executive order to reduce US drug prices to match the lowest in the world.

"We're working on a favoured nations law where we pay whatever the lowest nation's price is," Trump told reporters from the White House South Lawn.

"As you know, for years and years other nations paid less for drugs than we do, sometimes by 60 per cent, 70 per cent," he said.

The president accused pharmaceutical companies of having "taken advantage of the system for a long time," with US drug prices often exceeding those in neighbouring Canada and Mexico as well as Europe.

"Why should other nations like Canada -- why should other nations pay much less than us?" Trump said, declaring that he would handle the matter "in the form of an executive order."

Beginning this month the United States will require pharmaceutical companies to disclose the price of their drugs during television commercials, a measure which Trump has praised for its "historic transparency."

About half of Americans have health insurance with a high deductible which can reach thousands of dollars a year, in many cases more than $5,000 or $6,000 annually.

Many have to pay the full drug price until they have spent their annual deductible amount.

Despite pressure from the president, US pharmaceutical giant Pfizer in January increased the price of 41 drugs, which represents 10 per cent of its drug portfolio.

As with other pharmaceutical companies, Pfizer is facing the loss of patents for some of its biggest blockbuster drugs. Manufacturers are justifying a hike in prices saying they need to pay for research and development.

US President Donald Trump on Friday said his administration is working on an executive order to reduce US drug prices to match the lowest in the world. "We're working on a favoured nations law where we pay whatever the lowest nation's price is," Trump told reporters from the White House South Lawn.

US President Donald Trump on Friday said his administration is working on an executive order to reduce US drug prices to match the lowest in the world. "We're working on a favoured nations law where we pay whatever the lowest nation's price is," Trump told reporters from the White House South Lawn. "As you know, for years and years other nations paid less for drugs than we do, sometimes by 60 per cent, 70 per cent," he said. The president accused pharmaceutical companies of having "taken advantage of the system for a long time," with US drug prices often exceeding those in neighbouring Canada and Mexico as well as Europe. "Why should other nations like Canada -- why should other nations pay much less than us?" Trump said, declaring that he would handle the matter "in the form of an executive order." Beginning this month the United States will require pharmaceutical companies to disclose the price of their drugs during television commercials, a measure which Trump has praised for its "historic transparency." About half of Americans have health insurance with a high deductible which can reach thousands of dollars a year, in many cases more than $5,000 or $6,000 annually. Many have to pay the full drug price until they have spent their annual deductible amount. Despite pressure from the president, US pharmaceutical giant Pfizer in January increased the price of 41 drugs, which represents 10 per cent of its drug portfolio. As with other pharmaceutical companies, Pfizer is facing the loss of patents for some of its biggest blockbuster drugs. Manufacturers are justifying a hike in prices saying they need to pay for research and development.

Trump promises to reduce US drug prices to world's lowest

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'American families deserve immediate relief': US drug prices too high? Trump threatens crackdown on 17 major pharmaceutical giants

Trump promises to reduce US drug prices to world's lowest