President promises relief soon for rising drug prices

THE WHITE HOUSE (WPVI) -- President Trump says relief is coming for rising drug prices.

As he left the white house today, he said the action would come in about 2 weeks.

The president said it would be an executive order that would include a "favored nations clause."

"So that whatever the lowest nation is anywhere in the world - or company. The lowest nation or company. Then what happens is we will pay that amount," said the President.

There are no details on how many drugs the order would cover, or whether it would be enforceable.

Many countries pay lower prices, because they negotiate directly with companies.

However, federal law prohibits Medicare, for example, from doing that.

A report this week said drug prices rose 10 and a half per cent in 2019, almost 5 times the inflation rate
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