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‘The Large Cash Present’ panel discusses President Donald Trump’s pharmaceutical tariff technique.
President Donald Trump on Thursday despatched letters to 17 pharmaceutical corporations concerning decreasing drug costs.
White Home press secretary Karoline Leavitt mentioned at her press briefing that Trump despatched out the letters following an government order earlier this yr.
HHS SEC ROBERT F KENNEDY JR: AMERICAN PATIENTS PAY MORE SO OTHERS CAN PAY LESS — THAT STOPS NOW
President Donald Trump talks to the media as he meets with British Prime Minister Keir Starmer at Trump Turnberry golf membership on July 28, 2025 in Scotland. (Getty Photographs / Getty Photographs)
“The president signed an government order earlier this yr to unravel the issue of exorbitant pharmaceutical pricing,” Leavitt mentioned. “In accordance with latest information, the costs that Individuals have been paying for model identify medication are greater than thrice the value different related, equally developed nations pay. The president is set to unravel this drawback and took additional motion at present. He has signed 17 letters to pharmaceutical corporations’ CEOs.”
Leavitt then learn aloud a letter despatched to the CEO of Eli Lilly, then mentioned the entire letters could be made accessible to the press following the briefing.
Trump additionally started posting copies of every letter to his social media platform, TRUTH Social.
In his letter to Eli Lilly CEO David Ricks, Trump famous that he signed an government order on Might 12 titled “Delivering Most-Favored-Nation Prescription Drug Pricing to American Sufferers.” The order is meant to “cease world freeloading and assure that Individuals pay the identical costs loved by different developed nations.”
White Home Press Secretary Karoline Leavitt speaks throughout a press briefing within the Brady Press Briefing Room on the White Home on July 31, 2025. (Anna Moneymaker/Getty Photographs / Getty Photographs)
TRUMP’S ‘WRONG-HEADED’ EFFORT TO LOWER DRUG COSTS AMOUNTS TO PRICE CONTROL: EXPERT
“Proper now, model identify medication in america are as much as thrice increased on common than anyplace else for the an identical medicines,” Trump wrote. “This unacceptable burden on hardworking American households ends with my administration. Most proposals the Trump administration has acquired to resolve this essential subject promised extra of the identical shifting blame and requesting coverage adjustments that might end in billions of {dollars} in handouts to trade.”
Shifting ahead, Trump warned, the one factor he’ll settle for from drug producers “is a dedication that gives American households fast reduction from the vastly inflated drug costs, and an finish to the free trip of American innovation by European and different developed nations.” He known as on Eli Lilly and Firm and “each producer doing enterprise in our nice nation” to take motion inside 60 days. Trump mentioned they need to “lengthen essentially the most favored nation pricing to Medicaid, assure most favored nation pricing for newly launched medication, return elevated revenues overseas to American sufferers and taxpayers, and supply for direct buying at most favored nation pricing.”
White Home Press Secretary Karoline Leavitt shows a letter addressed to Eli Lilly from President Donald Trump throughout a press briefing within the Brady Briefing Room of the White Home in Washington, D.C., on July 31, 2025. (JIM WATSON/AFP through Getty Photographs / Getty Photographs)
Trump mentioned his workforce, together with Well being and Human Providers Secretary Robert F. Kennedy Jr. and Administrator for the Facilities for Medicare and Medicaid Providers Dr. Mehmet Oz, stands able to implement the phrases. The president mentioned he expects Ricks to additional have interaction with Kennedy and Oz “instantly in good religion to ship reduction for American households.”
“Make no mistake, a collaborative effort in direction of attaining world pricing parity could be the best path for corporations, the federal government and American sufferers,” Trump wrote. “However if you happen to refuse to step up, we’ll deploy each device in our arsenal to guard American households from continued abuse of drug pricing practices. Individuals are demanding decrease drug costs they usually want them at present. Different nations have been freeloading on U.S. innovation for a lot too lengthy, and it’s time they pay their justifiable share.”
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Trump mentioned he expects binding commitments to every of his listed targets by Sept. 29, describing the calls to motion a “important nationwide precedence.”
It is a creating story. Verify again for updates.
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