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Summary:The post consists of a letter from Donald Trump, dated July 31, 2025, addressed to Christopher Boerner of Bristol Myers Squibb, outlining demands for pharmaceutical companies to lower drug prices for American patients. The letter states that an Executive Order was signed on May 12, 2025, to ensure Americans pay the same drug prices as other developed nations, asserting that U.S. prices are currently up to three times higher due to other nations 'freeloading' on American innovation. It demands specific actions within 60 days, including extending Most-Favored-Nation (MFN) pricing to Medicaid and new drugs, repatriating increased revenues from abroad to lower U.S. prices, and providing for direct purchasing at MFN pricing. The letter indicates that if these demands are not met by September 29, 2025, the Administration will use 'every tool' to protect American families from 'abusive drug pricing practices,' with Secretary Kennedy and Administrator Oz prepared for implementation.
Sentiment:Directive
Key Claims:
- An Executive Order, 'Delivering Most-Favored-Nation Prescription Drug Pricing to American Patients,' was signed on May 12, 2025.
- The Executive Order aims to stop 'global freeloading' and guarantee Americans pay the same drug prices as other developed nations.
- Brand name drug prices in the United States are up to three times higher than elsewhere.
- This situation is an 'unacceptable burden on hardworking American families.'
- The Administration rejects proposals that result in 'handouts to industry.'
- Drug manufacturers must provide immediate relief from 'vastly inflated drug prices.'
- European and other developed nations are 'freeloading' off American innovation.
- Bristol Myers Squibb and all drug manufacturers are called to take specific actions within 60 days.
- MFN pricing must be extended to Medicaid for existing drugs.
- MFN pricing must be guaranteed for newly-launched drugs for Medicare, Medicaid, and commercial payers.
- Increased revenues from abroad must be returned to American patients and taxpayers.
- Direct Purchasing at MFN Pricing through DTC and/or DTB models must be provided.
- Secretary Kennedy and Administrator Oz are ready to implement these terms.
- If manufacturers refuse to comply, the Administration will deploy 'every tool' to protect American families from 'abusive drug pricing practices.'
- Americans are demanding lower drug prices.
- Binding commitments are expected by September 29, 2025.
Potential Market Impact (S&P 500):7/10
Potential Geopolitical Risk:0/10
Potential Global Cross-Asset Impact:6/10
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