Overview

• President Trump signed an executive order mandating 'most-favoured-nation' pricing for federal drug programs like Medicare and Medicaid.
• The order tasks the Health and Human Services with proposing rules to match U.S. drug prices to the lowest rates in developed countries.
• Commerce and the U.S. Trade Representative are instructed to investigate foreign nations' pricing practices that may unfairly burden U.S. consumers.
• Trump cited a personal anecdote involving a friend's weight-loss drug, which costs $88 in London but $1,300 in New York, to highlight price discrepancies.
• The identity of the unnamed friend, described as a 'brilliant' but 'overweight' businessman, remains unconfirmed, fueling speculation online.