Trump Administration's Strategy to Alter Global Drug Pricing

The Trump administration is discussing with drugmakers ways to increase medicine prices in Europe and beyond to lower U.S. costs. The approach involves supporting international negotiations through a 'most favored nation' pricing model. This priority aims to address the high prescription drug costs in the U.S.

The Trump administration is proactively engaging with pharmaceutical companies to explore strategies to increase the cost of medicines in Europe and other regions, aiming to reduce the soaring drug expenses within the United States. A White House official and three industry sources revealed this strategic push.

The U.S. is in ongoing trade discussions and negotiating tariffs in the pharmaceutical domain. Administration officials have been consulting with drug companies to consider tactics for price hikes overseas while avoiding cuts in research and development budgets.

Despite potential hurdles, the discussions are guided by the 'most favored nation' pricing concept, seeking international parity in drug prices to alleviate U.S. consumer burdens. U.S. policymakers are pressuring to align drug pricing with equitable global standards.

(With inputs from agencies.)