President Donald Trump said that prescription drug prices are now dropping at unprecedented levels because he invoked favored nations status for the United States.
Trump wrote in a Saturday post that prices are falling "500%, 600%, 700%, and more," and said no previous president achieved similar results.
"This is also the answer to much less expensive, and far better, HEALTHCARE!" Trump said in his post.
He told Republicans to remember the policy originated with his administration and said it represents "a revolution in medicine, the biggest and most important event, EVER."
Trump said that if the story is told correctly, Republicans "should win the Midterm Elections in RECORD NUMBERS."
"I AM THE AFFORDABILITY PRESIDENT. TALK LOUDLY AND PROUDLY!" he wrote.
Trump's Executive Order in May argues that Americans fund "around three quarters of global pharmaceutical profits" because drug makers offer deep discounts overseas while charging "enormously high prices in the United States."
The order says manufacturers rely on price markups on American consumers, public subsidies for research and development, and taxpayer-funded healthcare programs while foreign systems "get a free ride."
Trump states that Americans "deserve low-cost pharmaceuticals on the same terms as other developed nations" and should not pay "almost three times more for the exact same medicines."
The policy set in the order declares that Americans "must therefore have access to the most-favored-nation price" for prescription drugs and biologics.
It directs the administration to take immediate steps to end global freeloading.
If drug companies do not offer Americans the lowest price available in other developed nations, the order warns that the administration will take "additional aggressive action."
Jim Mishler ✉
Jim Mishler, a seasoned reporter, anchor and news director, has decades of experience covering crime, politics and environmental issues.
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