Trump asks drugmakers to cut U.S. prices within 60 days
U.S. President Donald Trump, U.S. Health and Human Services (HHS) Secretary Robert F. Kennedy, Jr., Dr. Mehmet Oz, Administrator for the Centers for Medicare & Medicaid Services, David Sacks, AI & Crypto Czar and Amy Gleason, Acting Administrator, Department of Government Efficiency (DOGE) attend the “Making Health Technology Great Again” event in the East Room at the White House in Washington, D.C., U.S., July 30, 2025.
Evelyn Hockstein | Reuters
President Donald Trump on Thursday said he asked major pharmaceutical companies to take steps to cut U.S. drug prices within the next 60 days.
On Truth Social on Thursday, Trump posted individual letters he sent 17 drugmakers: AbbVie, Amgen, AstraZeneca, Boehringer Ingelheim, Bristol Myers Squibb, Eli Lilly, EMD Serono, Genentech, Gilead, GSK, Johnson & Johnson, Merck, Novartis, Novo Nordisk, Pfizer, Regeneron, and Sanofi.
Trump threatened to “deploy every tool in our arsenal to protect American families from continued abusive drug pricing practices” if companies refuse to comply. He asked for each company to commit to his several goals by Sept. 29.
The letters come after Trump in May signed an executive order reviving a controversial plan, known as the “most favored nation” policy, that aims to slash drug costs by tying the prices of some medicines in the U.S. to the significantly lower ones abroad. It was Trump’s latest effort to try to rein in U.S. prescription drug prices, which are two to three times higher on average than those in other developed nations – and up to 10 times more than in certain countries, according to the Rand Corp., a public policy think tank.
White House Press Secretary Karoline Leavitt holds U.S. President Donald Trump’s letter to Eli Lilly CEO David Ricks during a press briefing at the White House in Washington, D.C., U.S., July 31, 2025.
Evelyn Hockstein | Reuters
In the letters on Thursday, Trump said drugmakers have proposed potential solutions for high U.S. drug prices. But he said those proposals “promised more of the same: shifting blame and requesting policy changes that would result in billions of dollars in handouts to the industry.”
He said moving forward, he will only accept commitments from drugmakers that provide “American families immediate relief from the vastly inflated drug prices and an end to the free ride of American innovation by European and other developed nations.” Trump said a collaborative effort towards lowering U.S. drug prices would be the “most effective path” for companies, the government and patients.
Shares of drugmakers fell following the announcement on Thursday. Shares of Bristol Myers Squibb and Novo Nordisk dropped nearly 5%, GSK and Merck’s stocks fell more than 3% and shares of Sanofi tumbled more than 8%.
Here are the steps Trump is asking companies to take:
- He called on drugmakers to provide their full portfolio of existing medicines at the lowest price offered in other developed nations – or what he calls the most-favored-nation…
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