Overview

• President Trump signed an executive order requiring federal programs like Medicare and Medicaid to align drug prices with the lowest rates in developed nations.
• The order directs the Health and Human Services to propose rules for most-favoured-nation pricing and tasks Commerce and the U.S. Trade Representative with investigating foreign pricing practices.
• Trump shared a personal anecdote about a wealthy friend paying $88 in London versus $1,300 in New York for the same weight-loss drug, likely Ozempic, to highlight the pricing disparity.
• The pharmaceutical industry has long defended higher U.S. prices by citing research and development costs, which Trump argued should be shared globally.
• Media and social platforms continue to speculate on the identity of the unnamed friend, with guesses including Elon Musk and Chris Christie.