(Fixes headline to make it “this week” instead of “next week”)
WASHINGTON, Sept 1 (Reuters) - President Donald Trump said on Tuesday he planned to meet with pharmaceutical companies this week regarding his so-called most- favored-nation executive order aimed at lowering drug prices paid by the U.S. federal government.
The president signed the executive order this summer which, among other things, would require Medicare to tie the prices it pays for drugs to those paid by other countries. Its implementation, however, has been delayed as the administration seeks to work out a solution with the industry.
Trump said the drugmakers had a “real problem” with his decision.
“So, they’re coming in to see me, and we expect to get a very substantial price reduction in prescription drugs, which has never been done before,” Trump told reporters at Joint Base Andrews as he departed for Wisconsin. “They’re coming ... this week.”
Under the rule, the Medicare insurance program would only pay a price for a drug that matches the lowest price paid among foreign governments. Medicare, which covers older Americans and those with disabilities, is currently prohibited from negotiating the prices it pays to drugmakers. (Reporting by Diane Bartz and Jeff Mason; editing by Jonathan Oatis)
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