Trump threatens Big Pharma with ‘every tool in our arsenal’ over drug prices

President Donald Trump has issued a stern warning to the chief executives of 17 major pharmaceutical companies, demanding they lower drug prices for American consumers. Trump threatened to use "every tool in our arsenal" if the companies do not comply with his demands, which include adopting most-favored-nation pricing. This policy would require drug prices in the U.S. to match those in foreign nations, where identical drugs are reportedly up to three times cheaper. The White House cited data indicating that the U.S., despite having less than 5% of the global population, accounts for approximately 75% of global pharmaceutical profits. Trump also demanded that these lower prices be extended to all Medicaid patients and applied to all new drugs. The pharmaceutical CEOs were given a deadline of September 29th to implement these changes. This action follows up on an executive order signed in May aimed at ending global freeloading and price discrimination against U.S. patients. Trump emphasized that other nations have benefited from U.S. innovation without paying their fair share, and that it is time for them to do so. Health and Human Services Secretary Robert F. Kennedy Jr. and Centers for Medicare & Medicaid Services Administrator Mehmet Oz are prepared to enforce these new terms.