Trump: India’s pharmaceutical industry is expected to be impacted by medicine price reductions

Trump: As Washington shifts toward worldwide price benchmarking, US President Donald Trump’s proposal of massive prescription medicine price reduction is anticipated to have an impact on pharmaceutical markets throughout the world, particularly India’s generics-driven drug export industry.

According to Trump, Americans would soon just have to pay the lowest price in the world. Trump said, “You’re going to get most favored nations pricing.”

Alongside FDA Commissioner Marty Makary, CMS Administrator Mehmet Oz, Commerce Secretary Howard Lutnick, HHS Secretary Robert F. Kennedy Jr., and officials from international pharmaceutical corporations, the announcement was made.

Trump said, “Americans have been forced to pay the highest prices in the world for decades.”

He said that pharmaceutical companies have consented to significant price cuts on key items. “To cut prices by 300, 400, 500, 600, and even 700 percent, we signed historic agreements,” Trump said.

Paul Hudson of Sanofi, Vas Narasimhan of Novartis, Ashley Magargee of Genentech, Dan O’Day of Gilead, Emma Walmsley of GSK, Robert Davies of Merck, and Peter Griffith, the executive vice president of Amgen, were among the executives in attendance.

Trump said that in order to force other governments to align pricing, the administration will impose tariffs.

“Without the use of tariffs, we would never be able to do this,” he said.

Drug costs in the US will soon be “among the lowest in the developed world,” he said.

Trump said, “So we will get the lowest price anywhere in the world.”

Trump also linked the program to increased pharmaceutical production in the United States.

“They’re already building and they’re coming in,” he said.

One of the biggest makers of generic medications worldwide, India is a major supplier to the US market, especially for reasonably priced chronic illness therapies.

Drug costs in India are often among the lowest in the world.

Given the significance of the US market to India’s pharmaceutical sector, Indian pharmaceutical exporters keenly monitor any US effort toward global price benchmarking.