The US Department of Health and Human Services said Tuesday it is taking immediate measures to carry out President Trump's executive order aimed at lowering prescription drug costs for Americans through a "Most-Favored-Nation" pricing model.
The department said it has outlined pricing targets that drug companies will need to meet. The changes are meant to stop Americans from paying more for medications than people in "economically comparable" countries, easing the financial burden on US patients.
The department said it is asking drug manufacturers to match US prices for brand-name drugs, which are without generic or biosimilar competition, to the lowest price charged in comparable countries. "The MFN target price is the lowest price in an Organization for Economic Cooperation and Development country with a gross domestic product per capita of at least 60% of the US GDP per capita," the department said.
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