Trump urges pharmaceutical companies to slash US drug prices

​​​​​​​By Yasin Gungor

ISTANBUL (AA) - US President Donald Trump urged 17 major pharmaceutical companies to implement "Most-Favored-Nation (MFN)" pricing on Thursday for American patients within 60 days. ​​​​​​​

Trump sent letters to executives at Pfizer, Johnson & Johnson, Novartis, AstraZeneca, Merck, Eli Lilly and other drug makers demanding immediate action to end "global freeloading" on American innovation.

He said drug prices in the US are "up to three times higher on average than elsewhere for the identical medicines."

"This unacceptable burden on hardworking American families ends with my Administration," he wrote.

- 4 key demands

Trump outlined four specific requirements for the companies, including extending MFN to Medicaid patients, guaranteeing that policy’s prices for newly-launched drugs, returning increased foreign revenues to American patients through lower prices, and participating in direct-purchasing models.

"Moving forward, the only thing I will accept from drug manufacturers is a commitment that provides American families immediate relief from the vastly inflated drug prices," said Trump.

- September deadline set

Trump set a Sept. 29 deadline for binding commitments, with Health Secretary Robert Kennedy Jr and Medicare Administrator Mehmet Oz leading implementation efforts.

"Make no mistake: a collaborative effort towards achieving global pricing parity would be the most effective path for companies, the government, and American patients. But if you refuse to step up, we will deploy every tool in our arsenal," he warned.

The initiative builds on Trump's May 12 executive order that targeted prescription drug pricing disparities between the US and other developed nations.