President Donald Trump said Monday that his new executive order would quickly lead to major reductions in prescription drug prices.
“Some prescription drug and pharmaceutical prices will be reduced almost immediately by 50% to 80% to 90%,” he said at a press conference. “Big Pharma will either abide by this principle voluntarily or we’ll use the power of the federal government to ensure that we are paying the same price as other countries.”
He said the U.S. will “pay the lowest price there is in the world. We will get whoever is paying the lowest price — that’s the price that we’re going to get.”