Live Updates > Live Update Details
2025-08-01 02:55:27
Trump sent letters to 17 of the world's largest pharmaceutical companies, including Eli Lilly, Novo Nordisk, and Pfizer, urging them to significantly cut the prices of new drugs in the United States to the lowest levels paid in certain other countries. He also asked the companies to immediately reduce the prices of existing drugs charged to Medicaid programs and ensure that the prices of future drugs are comparable to overseas prices. He said the US government will work with them to ensure that overseas price increases are consistent with domestic prices. Any profits companies gain from price increases in Europe and other regions must be returned to the United States to reduce domestic costs. He also asked pharmaceutical companies to establish direct-to-consumer purchasing mechanisms for high-selling drugs, allowing consumers to purchase drugs directly at the discounted prices obtained by third-party insurance companies. (Refinitiv)
