Monday, May 12th 2025, 11:28:36 am
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President Donald Trump's plan to change the pricing model for some medications is already facing fierce criticism from the pharmaceutical industry before he's even signed the executive order set for Monday that, if implemented, could lower the cost of some drugs. Trump has promised that his plan — which is likely to tie the price of medications covered by Medicare and administered in a doctor’s office to the lowest price paid by other countries — will significantly lower drug costs. “Importing foreign prices will cut billions of dollars from Medicare with no guarantee that it helps patients or improves their access to medicines,” Stephen J. Ubl, the president and CEO of PhRMA, said in a statement.