Trump Suddenly Takes Action Against Pharma Giants.

According to the latest reports, U.S. President Donald Trump has demanded that major global pharmaceutical companies take measures within the next 60 days to lower drug prices in the U.S., targeting industry giants such as Eli Lilly, Pfizer, and Merck. He warned that if these companies refuse to reduce prices, he will "use every tool available."

Following the announcement, pharmaceutical stocks plummeted on the same day. Sanofi’s shares plunged over 7%, Novo Nordisk fell nearly 6%, while Bristol Myers Squibb, GlaxoSmithKline, and Merck dropped more than 4%. However, analysts believe the Trump administration is unlikely to successfully implement these policies.

Trump recently stated that he has ordered major global pharmaceutical companies to take action within 60 days to lower U.S. drug prices.

According to Trump’s latest letter, the targeted companies include AbbVie, Amgen, AstraZeneca, Boehringer Ingelheim, Bristol Myers Squibb, Eli Lilly, EMD Serono, Genentech, Gilead, GlaxoSmithKline, Johnson & Johnson, Merck, Novartis, Novo Nordisk, Pfizer, Regeneron, and Sanofi.

Trump threatened that if these pharmaceutical giants refuse to lower prices, he will "use every tool available to protect American families from continued drug pricing abuse." He demanded that companies commit to achieving his stated goals by September 29.

Previously, in May, Trump signed an executive order to implement a "Most Favored Nation" policy in the pharmaceutical sector, aiming to drastically reduce drug costs by linking U.S. prices to significantly lower foreign prices.

In his latest letter, Trump stated that drug companies have proposed potential solutions to address high U.S. drug prices. However, he criticized these proposals as "more of the same: shifting blame and calling for policy changes that would send tens of billions of dollars in subsidies to the industry."

He declared that he will only accept commitments from pharmaceutical companies that provide "immediate relief from soaring drug prices for American families and end the free-riding of Europe and other developed nations on the back of American innovation." Trump emphasized that collaborative efforts to lower U.S. drug prices would be "the most effective path for businesses, government, and patients."