Exclusive: Lutnick says Trump will force drugmakers to lower prices

Source: msn/Axios

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President Trump is turning up pressure on drugmakers to lower prices and demanding they commit within weeks to his "most-favored nation" policy, Commerce Secretary Howard Lutnick tells Mike Allen in the premiere episode of "The Axios Show."

Why it matters: The initiative — which calls for charging the U.S. less for drugs than comparable countries — continues Trump's efforts to reshape drug pricing through threats and public shaming.

It also raises the stakes for pharmaceutical manufacturers as they face threatened tariffs.

"The Axios Show" is our new series featuring our top reporters and experts interviewing newsmakers shaping politics, media, business, tech and culture. The full episode with Lutnick is out today.

What they're saying: "The president's going to say that you drug manufacturers cannot sell here unless you sell there at a higher price. Stop being willing to sell to them at such a low price," Lutnick said.

Trump says having the EU and other nations pay more for pharmaceuticals would lower the proportion of research and development costs borne by American consumers.

Between the lines: The action is as much about sticking it to the European Union and other countries that set lower drug prices for their citizens as it is about going after the pharmaceutical industry.

Read more: https://www.msn.com/en-us/politics/government/exclusive-lutnick-says-trump-will-force-drugmakers-to-lower-prices/ar-AA1MpqYy