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Trump’s Executive Order Targets Prescription Drug Costs
On Monday, President Donald Trump signed an executive order mandating that drug companies take action to reduce the prices of prescription medications or risk facing repercussions from the federal government. This directive has ignited discussions regarding its potential implications for price control in the pharmaceutical industry.
Expert Analysis Raises Concerns
Michael Cannon, director of health policy studies at the Cato Institute, characterized this initiative as a form of price control. He expressed concerns that, unlike traditional price control measures that often apply to government programs, this executive order spans the private sector as well. Cannon argues that historical instances of government-imposed price controls in various sectors have led to shortages.
“We have seen government price controls in housing,
