Trump Signs Executive Order to Lower Prescription Drug Prices

President Trump has signed a new executive order aimed at lowering prescription drug prices, particularly benefiting American seniors by directing Medicare to negotiate better prices and align payments more closely with acquisition costs. The order is expected to bring significant savings for those enrolled in Medicare and aims to restore prior initiatives to address high medication costs. While praised by groups like the Association of Mature American Citizens and supported for its patient-first approach, the U.S. Chamber of Commerce has cautioned that cost reductions should not undermine future pharmaceutical innovation. In parallel, states like Maryland and Colorado are pursuing their own reforms, including establishing upper payment limits and increasing transparency and accountability for hospitals and drug pricing programs. Additionally, Americans can access immediate savings through discount platforms like GoodRx, while broader measures such as drug importation and expanded federal negotiation powers are set to provide further relief. Despite these efforts, experts note that some healthcare costs may remain high in the near term, and ongoing collaboration between government, industry, and stakeholders is needed to balance affordability with innovation.