US President donald trump signed an executive order on Monday. Under this, pharma companies doing business in the country have been given 30 days to reduce the price of medicines. This order said that pharma companies making medicines using government funds charge more money from people in America than in other countries, so now the price of medicines will be reduced in America, which will benefit the people here. The purpose of this executive order of trump is to reduce the price of medicines in America by 30 to 80 percent.
Trump gave this order for this purpose
According to Fortune India's report, indian Pharmaceutical Alliance (IPA) Secretary General sudarshan Jain has said, the executive order of the US government means to bring balance in innovation, access and healthcare cost. Development and research in life sciences require a long time as well as more investment and there is also more risk in it. He further said, "The executive order emphasized that the expenditure on innovation should be equally distributed among all. This order of trump will have a greater impact on the innovative companies because they will now have to adopt the new prices set by the government health department for their medicines. If this is not done, then the funds received by the pharma companies from the government can be cut."
Now everyone will pay the same price
Trump has written in one of his posts, "For many years the world has been wondering why the prices of prescription drugs and pharmaceuticals in America are so high compared to other countries? The same drug made by the same company in the same lab or plant is sold here at five to ten times more price." In view of this, now the government will implement the 'Most Favored Nation' pricing model. This will help ensure that America will also have to pay the same price as the country paying the lowest price in the world. This will bring fairness and the difference in the prices of medicines at the global level will also reduce.
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