Donald Trump announced plans to use executive powers to slash US prescription drug prices by 30-80%, mirroring the lowest prices globally. This announcement triggered a significant sell-off in pharmaceutical stocks worldwide, with shares of major companies experiencing substantial drops. Trump claims this action will address high drug costs, a long-standing issue he blames on industry lobbying and American 'suckers' paying inflated prices. While he didn't specify which programs the order would impact, the move faces opposition from industry groups who warn of negative consequences for patient care and innovation.

Prepared by Christopher Adams and reviewed by editorial team.