Trump takes action to lower prescription drug prices

President Donald Trump on Tuesday signed an executive order that seeks to lower prescription drug prices for Americans on Medicare, and low-income patients. 

The order expands on the president's efforts during his first term to lower prescription drug prices, including reauthorizing his order that drastically reduced out-of-pocket prices for insulin and EpiPens for low-income Americans.

This time, insulin prices will be lowered to as low as $0.03, plus a small administrative fee for low-income and uninsured Americans, and injectable epinephrine prices will be as low as $15, plus a small administrative fee.

The new directive instructs the Department of Health and Human Services (HHS) to improve the Medicare Drug Pricing Negotiation Program, align prescription drug prices for Medicare patients with the costs hospitals pay for the medication, and standardize Medicare payments for prescription drugs regardless of where the patient was treated.

"President Trump is delivering on his promise to once again put American patients first by building off of the historic efforts of his first term to lower prescription drug prices," the White House said in a fact sheet on the order. "President Trump will not stand for inaction, and his Administration is working rapidly to lower the cost of prescription drugs for Americans."

The White House also accused the Biden administration of allowing Trump's first-term efforts to reduce drug prices to expire. 

The Biden administration did reach an agreement with drugmakers last year to reduce prices on 10 of the most expensive prescription drugs available under Medicare.

Misty Severi is a news reporter for Just The News. You can follow her on X for more coverage.