Trump Signs Order to Reform Medicare Drug Pricing, Target Insulin Costs

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Updated Apr 15, 2025, 11:16 PM

President Donald Trump has signed an executive order aimed at reforming Medicare drug price negotiations. The order directs the Department of Health and Human Services to take steps to significantly reduce drug prices for American consumers, focusing on expanding efforts from his first term. It specifically targets lowering insulin prices and standardizing Medicare payments for prescription drugs. The executive order seeks to work with Congress to revamp a law that allows Medicare to negotiate prescription drug prices, a change that has been lobbied for by the pharmaceutical industry. This move is intended to address soaring Medicare prescription drug prices. The order also addresses the differential treatment between small molecule drugs and biologic medications, aiming to end the so-called pill penalty. The order includes instructions for the Labor Department to rule on broker fee disclosure and urges Congress to reform IRA drug negotiation policies. Additionally, the FDA has been directed to accelerate drug importation processes, including from Canada, and streamline approvals for generic drugs and biosimilars.

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