President Donald Trump has taken bold action with an executive order targeting the reduction of prescription drug prices while enhancing Medicare accessibility, striking at the heart of previous Biden-era policies.
At a Glance
- President Trump signed an executive order to lower prescription drug prices, focusing on seniors and enhancing Medicare negotiations.
- The order aims to surpass savings achieved by the Biden administration through the Inflation Reduction Act.
- Medicare prices from Biden’s era will apply in 2026, while Trump’s actions will be evident in 2027.
- Trump revives a program for affordable insulin and epinephrine for low-income individuals.
- The FDA is directed to expedite approvals and streamline importation practices for generics and biosimilars.
Reshaping Drug Pricing Policies
President Donald Trump issued an executive order aimed squarely at reducing prescription drug prices, a crucial concern for many Americans, especially seniors. This reform intends to reverse certain policies from the Biden administration, building on previous initiatives while prioritizing American patients. By focusing on innovation and fairness, the order mandates more competition and transparency in Medicare, aiding senior citizens who bare the financial brunt.
Watch to find out more about Trump’s actions.
The Trump administration emphasizes the importance of negotiating drug prices, with plans to expand negotiations from 10 drugs in 2024 to 15 more, including high-profile names like Ozempic, aiming to implement savings by 2027. The endeavor links back to the Inflation Reduction Act of 2022, striving to dwarf the Biden administration’s achievements by placing American consumers at the forefront.
Executive Order 14087 directed @HHSGov to develop new models to lower prescription drug costs and expand access to treatments.
President Trump’s decided to rescind the program — I’m joining dozens of House colleagues push him to reconsider. pic.twitter.com/90DdCbtG2N
— Congressman Seth Magaziner (@Rep_Magaziner) February 3, 2025
Reviving Previous Successes
The revival of a previous program from Trump’s first term further exemplifies the administration’s commitment to affordability, targeting low-income individuals by providing vital medications like insulin and epinephrine at reduced rates. This continues a legacy of fighting for low-cost solutions that are as fair as they are accessible. Additionally, Trump’s latest action places scrutiny on intermediaries, calling for strategies that better align with biologics and small molecule drugs, ensuring no patient gets left behind.
“We are confident we will eclipse the savings the Biden administration achieved in the first year.” – White House official
The Health and Human Services Secretary Robert F. Kennedy Jr. is tasked with eliminating the imbalance within the Medicare drug price negotiation program, tasked with finding solutions that won’t inflate Medicare spending, providing new hope under the banner of conservative values.
A Path Forward
Trump’s executive order announces ongoing efforts for transparency and fairness within the realm of prescription drugs. Regulations are in the pipeline to manage shifts in medication administration costs, pharmacy benefit manager fees, and anti-competitive practices by pharmaceutical manufacturers, all aimed at breaking down barriers fostering undue burden on Americans.
“The president is leveraging current programs to deliver meaningful cost savings here.” – White House official
With the FDA driven to quicken the approval of generic and biosimilar medications, state importation programs are cleared for a streamlined path to implementation, promoting a marketplace reflecting American interests above all else. Once just an idea, affordable and accessible drugs now appear increasingly realistic in a nation yearning for fiscal responsibility.
