Overview

• On July 31, Trump sent identical letters to the CEOs of 17 leading pharmaceutical companies, setting a Sept. 29 deadline to adopt most-favored-nation pricing for U.S. sales
• The letters direct companies to offer Medicaid patients global lowest prices, guarantee the same rates for all newly launched drugs and redirect extra revenues earned overseas back to American consumers
• Trump warned that firms refusing to comply will face “every tool in our arsenal,” though legal experts have questioned the scope of presidential authority to enforce private-market price mandates
• The industry trade group PhRMA argued that mandatory price cuts could undermine U.S. pharmaceutical leadership and harm patients and workers
• White House Press Secretary Karoline Leavitt previewed the letters at a briefing and Trump amplified the push by posting each letter on his TRUTH Social platform