Translation. Region: Russian Federal
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
WASHINGTON, July 31 (Xinhua) — U.S. President Donald Trump on Thursday sent letters to the heads of 17 pharmaceutical companies, demanding that they lower drug prices within 60 days, threatening to take action if they refuse.
On his Truth Social page, D. Trump published letters sent to 17 pharmaceutical manufacturers, including Eli Lilly, Pfizer and Merck. They demand that they take steps to reduce drug prices in the US.
The letters were sent after Trump signed an executive order in May to restore the “most favored nation” policy, which is designed to lower drug prices by tying the cost of some medications in the U.S. to much lower prices in other developed countries.
“Most of the proposals my administration has received to ‘solve’ this critical problem have promised the same thing: shifting blame and demanding policy changes that will result in billions of dollars in handouts to industry,” Trump said in the letters.
“Going forward, the only thing I will accept from drug manufacturers is a commitment to protect American families from exorbitant drug prices and to stop European and other developed countries from freely using American innovations,” he said.
D. Trump also warned that if the pharmaceutical companies that received the letters refuse to meet, “we will use every tool in our arsenal to protect American families from continued abuses in drug pricing.” The president did not specify what measures would be taken.
Currently, brand-name drugs in the United States cost, on average, three times more than identical drugs in other countries, the letters say.
Shares of major pharmaceutical companies fell after the letter news broke. On Thursday, shares of Eli Lilly and Pfizer fell more than 2 percent, while shares of Merck fell more than 4 percent. –0–
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