Trump earthquake hits drug pricing worldwide: Americans now to get fair deal
The economic earthquake that is known as President Donald Trump on Monday hit the pharmaceutical industry worldwide, and the end result will be that Americans soon will be paying the same for drugs as the best deal being offered to any customers worldwide.
No longer will Americans be paying four, five or even 10 times the price for the same drug that others around the world pay, he said.
It’s coming through an executive order and Trump plans for Congress to put it into the law.
It essentially will look at the best price paid for a drug by any customers around the world, and will make that same drug available at that same price to Americans.
For decades, Americans actually have been paying for literally all of the development, research and other costs of drugs.
Trump cited a friend who had pointed out that his treatment was costing him $88 while he was in London. But in New York, the same prescription cost him $1,300.
“We’ve been subsidizing countries around the world,” Trump said. He said the drug pricing now will have “fairness” for Americans.
He said some drug prices would be dropping almost immediately. At the close of an hour-long news conference, Trump signed the order.
The fairness comes after the Joe Biden administration left Americans paying some 70% higher prescription costs than they were paying in 2000.
Pharmaceutical companies have been getting two-thirds of their profits from Americans, which make up 4% of the world’s population.
President Trump is signing a historic Executive Order to significantly reduce drug prices for Americans.
This EO will help bypass costly middlemen and bring the prices Americans pay for prescription drugs in line with those paid by other nations.
Other Presidents merely talked… pic.twitter.com/KTD37JonpH
— Karoline Leavitt (@PressSec) May 12, 2025
Those companies should have no great loss, as the prices that are reduced for Americans will be made up by slightly higher prices for others around the globe.
“Basically what we’re doing is equalizing … we’re all going to pay the same,” Trump said. “Whoever is paying the lowest price, that’s the price we’re going to get.”
He continued, “Democrats could have done this a long time ago. They have fought like hell for the drug companies.”
Trump noted he’d begun addressing drug prices during his first term.
“Joe Biden without any knowledge of what he was doing terminated the policy. Then he negotiated a new system… five of the drugs he negotiated now are much more expensive than when he got involved.”
HHS chief Robert F. Kennedy Jr. pointed out this was a goal he’s held for years.
RFK JR ON TRUMP’S DRUG ORDER: “I never thought this would happen in my lifetime… we FINALLY have a President who is willing to stand up for the American people.”
— Nick Sortor (@nicksortor) May 12, 2025
“This is an extraordinary day,” he said. “This was an issue people talked about … but wouldn’t do anything.”
He said the topic was “radioactive,” as there are many more pharmaceutical industry lobbyists in Washington than members of Congress.
He called Trump a “man of his word,”
“There has never been a president more willing to stand up to the oligarchs than Donald Trump.”
Mehmet Oz, administrator of the Centers for Medicare & Medicaid Services, said, “This is the most powerful executive order on pharmaceutical prices in our nation. It only happened because we have a president still to stand up…”
At that time, he said, on social media, “For many years the World has wondered why Prescription Drugs and Pharmaceuticals in the United States States of America were SO MUCH HIGHER IN PRICE THAN THEY WERE IN ANY OTHER NATION, SOMETIMES BEING FIVE TO TEN TIMES MORE EXPENSIVE THAN THE SAME DRUG, MANUFACTURED IN THE EXACT SAME LABORATORY OR PLANT, BY THE SAME COMPANY???” Trump began, having made people wait nearly four hours for his post.
“It was always difficult to explain and very embarrassing because, in fact, there was no correct or rightful answer. The Pharmaceutical/Drug Companies would say, for years, that it was Research and Development Costs, and that all of these costs were, and would be, for no reason whatsoever, borne by the ‘suckers’ of America, ALONE.
WATCH: Trump holds news conference with the secretary of Health and Human Services