U.S. President Donald Trump signed a healthcare executive order that includes a provision favorable to pharmaceutical companies. The order directs his health department to collaborate with Congress on revamping a law that permits Medicare to negotiate prescription drug prices.
This initiative seeks to introduce changes that the pharmaceutical industry has actively lobbied for, potentially mitigating the impact of the Medicare Drug Price Negotiation Program. The program, part of the Inflation Reduction Act, has selected key Pfizer products like Eliquis, Ibrance, and Xtandi for negotiation.
The executive order signals a potential shift in government approach to drug pricing, which could reduce future revenue pressures on pharmaceutical companies. This development is a positive indicator for Pfizer and its peers regarding the evolving regulatory landscape.
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