Trump continues his war on the free market with price controls for pharmaceutical drugs

Yesterday, July 24, 2020, President Donald Trump signed an executive order to force the prices on some drugs down without regard to the laws of supply and demand or allowing the free market to determine the proper price for each drug.

Photo by Karolina Grabowska on

Trump remarked, “Today I’m signing four sweeping executive orders that will lead to massive reduction in drug costs.  Massive.  We’ve already gotten them down a little bit, but that’s not good enough.  First time in 51 years, as I said — but that’s not good enough.  They represent the most far-reaching prescription drug reforms ever issued by a President.  Nothing even close.”

“The four orders that I’m signing today will completely restructure the prescription drug market, in terms of pricing and everything else, to make these medications affordable and accessible for all Americans.

“The first order will require federal community health centers to pass the giant discounts they receive from drug companies on insulin and EpiPens directly to their patients.  You know, insulin became so expensive, people weren’t able to use it.  They desperately needed it.  We have it to a level that you’re not going to believe.  EpiPens, likewise — you’ve been reading horrible stories about EpiPens over the last six, seven years.  Horrible, horrible, horrible increases, where they went from almost nothing to massive amounts of money.  We’re changing that right now.

Categories: Business, Financial, Government, Health, Politics

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