WASHINGTON — President Trump on Sunday issued a far-reaching executive order aimed at lowering the cost of prescription drugs, but the pharmaceutical industry immediately denounced it and experts said it was unclear whether the White House could carry it out. The order belatedly makes good on — and expands upon — a promise Mr. Trump made at a July 24 White House signing ceremony, though it has no immediate effect. The order covers all drugs paid for by Medicare — including those sold at pharmacies — and not just those administered in doctors’ offices, as the president initially announced. “It is unacceptable that Americans pay more for the exact same drugs, often made in the exact same places,” the order says. “Other countries’ governments regulate drug prices by negotiating with drug manufacturers to secure bargain prices, leaving Americans to make up the difference — effectively subsidizing innovation and lower-cost drugs for the rest of the world.”

Source: International New York Times September 14, 2020 00:33 UTC