Trump says he has asked drugmakers to cut US prices of drugs in 60 days, or face consequences

President Donald Trump announced Thursday that he has called on major pharmaceutical companies to take action to reduce U.S. drug prices within 60 days.

Posting on Truth Social, Trump shared copies of letters sent to 17 drug manufacturers, including Eli Lilly, GSK, Pfizer, Regeneron, Merck, and Novo Nordisk.

Trump warned that if these companies fail to act, he would “deploy every tool in our arsenal to protect American families from continued abusive drug pricing practices.”

The move follows his May executive order that reinstated the controversial “most favored nation” policy — a measure aiming to curb drug costs by linking U.S. medicine prices to the significantly lower rates found in other countries. According to the Rand Corporation, U.S. prescription drug prices are on average two to three times higher than those in other developed nations, and up to ten times more expensive than in some countries.

In the letters, Trump noted that while drug companies have put forward proposed solutions, those ideas amounted to “more of the same: shifting blame and requesting policy changes that would result in billions of dollars in handouts to the industry.”

He emphasized that going forward, he would only accept commitments that deliver “immediate relief from the vastly inflated drug prices” for American families and end the “free ride of American innovation by European and other developed nations.” Trump urged collaboration, saying a joint effort to lower prices would be the “most effective path” for industry, government, and patients alike.

The Pharmaceutical Research and Manufacturers of America (PhRMA), the industry’s largest lobbying group, has not yet issued a response.