President Donald Trump has given major pharmaceutical companies 60 days to slash prescription drug prices, threatening to deploy “every tool in our arsenal” if they fail to comply.
The ultimatum came in letters sent last week to 17 leading drugmakers demanding they match the lowest prices offered in other developed nations.
The aggressive move signals Trump’s determination to fulfill campaign promises on healthcare costs, as Americans continue paying significantly more than consumers abroad for identical medications. Early signs suggest the pressure campaign may already be yielding results.
The White House announced that Trump’s letters warned companies they must take immediate steps to lower costs for American patients.
“There is no reason American consumers should pay exorbitantly more than other countries for the same drug in the same packaging and manufactured in the same factory,” the administration stated.
At least two major pharmaceutical companies have already responded to the pressure.
AstraZeneca CEO Pascal Soriot told reporters his company has proposed price cuts for certain U.S. drugs, while British drugmaker GSK confirmed it’s in talks with the Trump administration about lowering costs.
The letters set a September deadline for action, giving companies roughly two months to implement pricing changes. Trump’s approach represents a significant escalation in efforts to address pharmaceutical pricing disparities between the United States and other nations.
This direct approach to the pharmaceutical industry marks one of Trump’s most aggressive healthcare policy moves since taking office.