The Executive Order titled "Lowering Drug Prices by Once Again Putting Americans First" aims to reduce prescription drug costs for Americans. It outlines strategies to increase transparency in drug pricing, enhance competition, and import lower-cost drugs safely. The order also seeks to stabilize Medicare premiums and promote innovation while ensuring affordable access to essential medicines like insulin. Additionally, it calls for a review of the pharmaceutical value chain to support lower drug prices through competitive practices.
Simple Explanation
The government wants to make medicines cheaper for people by helping more companies compete and even allowing some drugs to be bought from other countries safely. They're also trying to make sure that things like insulin are affordable for everyone.