Pharma stocks in focus as Trump unveils plan to cut prescription drug prices by up to 80%
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Pharmaceutical stocks are set to be in the spotlight on Monday, May 12, after U.S. President Donald Trump announced plans to slash prescription drug prices by 30% to 80% ‘almost immediately’, via his social media post on his “Truth Social” account on X. “I am pleased to announce that Tomorrow morning, in the White House, at 9:00 A.M., I will be signing one of the most consequential Executive Orders in our Country’s history. Prescription Drug and Pharmaceutical prices will be REDUCED, almost immediately, by 30% to 80%,” Trump said in his X post. Link: https://x.com/TrumpDailyPosts/status/1921697332820578362 Trump made the announcement stating that the U.S. would pay the same price as the nation with the lowest pharmaceutical prices globally. “I will be instituting a MOST FAVORED NATION’S POLICY whereby the United States will pay the same price as the Nation that pays the lowest price anywhere in the World. Our Country will finally be treat...