July 23, 2020 / 11:18 PM / in 13 days

Trump to announce executive action to lower drug costs - Bloomberg News

U.S. President Donald Trump speaks during a coronavirus disease (COVID-19) news briefing at the White House in Washington, U.S., July 23, 2020. REUTERS/Kevin Lamarque

(Reuters) - President Donald Trump will announce executive action to lower drug costs to match foreign prices, including a plan for Americans to buy lower-cost prescription medication imported from Canada, Bloomberg News reported on Thursday.

The executive action could be announced as early as Friday and will include a policy to tie Medicare payments to foreign countries' drug prices, according to Bloomberg bit.ly/3hwyAy4. The order will also include a policy to cut the cost of insulin and Epi-Pens at hospitals through a current drug discount program, the report added, citing sources.

Reporting by Kanishka Singh in Bengaluru; Editing by Leslie Adler

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