President Trump signed an executive order to reduce prescription drug costs by facilitating states’ importation of low-cost medications from Canada. Currently, only Florida has been approved to do so, after a lengthy process. The order seeks to streamline FDA approval and encourage more states to participate. In the U.S., prescription spending is 42% higher than in Canada. The order also revisits the Medicare drug negotiation program, with the first reduced prices for 10 drugs set for January 1, 2026. Further reductions will be added in subsequent rounds.
Tags #Business, #Government
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