Trump will announce on Friday rules to lower U.S. drug prices

FILE PHOTO: U.S. President Donald Trump delivers an address from the Rose Garden at the White House in Washington, U.S., November 13, 2020. REUTERS/Carlos Barria

WASHINGTON (Reuters) – U.S. President Donald Trump will announce on Friday two rules designed to lower drug prices, an administration official said on Thursday.

The rules, first reported by the Wall Street Journal, are expected to be final and follow up on executive orders that Trump signed in July and September.

One rule would require Medicare to tie the prices it pays for drugs to those paid by other countries. The other rule would limit rebates paid to middlemen in Medicare.

Medicare, which covers older Americans and those with disabilities, is currently prohibited from negotiating the prices it pays to drugmakers.

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