
-
Venezuela's 'libertadora' Maria Corina Machado wins Nobel Peace Prize
-
UK opens door to tougher regulation of Google search
-
Art world's 'troublemakers' join forces in 'joyful' London show
-
Israel begins Gaza pullback as thousands head home
-
Premier League ref Taylor keeps family away from matches due to abuse
-
Venezuela opposition leader Maria Corina Machado wins Nobel Peace Prize
-
'Duck' Alcaraz and 'Cow' Federer: China tennis fans delight in nicknames
-
Unseeded Rinderknech ousts Auger-Aliassime to reach Shanghai semis
-
'Cynical' Russian attack batters Ukraine energy grid, kills 7-year-old
-
EU grills Apple, Snapchat, YouTube over risks to children
-
India to upgrade Afghan mission to full embassy
-
Peru ousts president blamed for failing to stem crime
-
Schauffele jumps into share of second in Japan
-
Japan in political crisis as coalition collapses
-
Relentless Sabalenka marches into Wuhan semi-finals
-
India lose Rahul after strong start in West Indies Test
-
North Korea's Kim hails 'cooperative' ties with China
-
Last fluent speaker on a quest to keep ancient S.African language alive
-
One killed as major quake strikes southern Philippines
-
Peru lawmakers oust president slammed for crime crisis
-
'Time runs away': Japan's city with a two-hour cap on phone use
-
Carmakers face massive UK dieselgate lawsuit
-
France's Macron to name PM to end political crisis
-
Unstoppable Pogacar targets more history at season-ending Il Lombardia
-
Ex-All Black Kerr-Barlow relishing Top 14 reunion with 'juggernauts' La Rochelle
-
Australia in 'tight' race to have Cummins fit for Ashes opener
-
Giants stun Super Bowl campion Eagles 34-17
-
Plastic pollution treaty not dead in the water: UN environment chief
-
Major quake strikes off southern Philippines
-
'Backyard fireworks' of WWII bombs still litter Solomon Islands
-
Europe needs reusable rockets to catch Musk's SpaceX: ESA chief
-
Myanmar air strikes force youth into bunker schools
-
Asian markets limp into weekend as AI bubble fears grow
-
'Massive attack' cuts power in Ukrainian capital
-
Dodgers win thriller to advance after Phillies blunder
-
Israel government approves Gaza hostage release deal
-
Venezuela ask for UN Security Council meet over US 'threats'
-
Fear and fury at ICE facility protest near Chicago
-
Morocco youth ask for king's ear at fresh protests
-
Comeback studio Warner takes 'victory lap' amid takeover rumors
-
Death of 'sweet king': AI chatbots linked to teen tragedy
-
Arc de Trump? New monument model sits on US president's desk
-
Sam Kerr poised to return for Australia's Matildas
-
US judge tosses Drake lawsuit over Lamar diss track
-
TripGift(R) Unlocks Glocal Bucket List' Dreams With Launch of New Destination Gift Card SKUs and Marketplaces for Cities, Destinations and Experiences
-
Judge halts Trump's Chicago troop deployment as Portland decision looms
-
Lakers' James to miss NBA season-opener with sciatica: reports
-
Saka lights up England's confident friendly win over Wales
-
RFK Jr pushes fringe claim linking autism to circumcision
-
Tuchel slams 'silent' England fans
CMSD | -0.25% | 24.27 | $ | |
CMSC | -0.08% | 23.69 | $ | |
RBGPF | -0.24% | 75.55 | $ | |
GSK | 0.21% | 43.44 | $ | |
AZN | -0.4% | 85.04 | $ | |
SCS | -1.57% | 16.53 | $ | |
BCC | -3.42% | 73.89 | $ | |
NGG | -0.38% | 73.33 | $ | |
RIO | -1.04% | 67 | $ | |
RELX | -1.53% | 45.15 | $ | |
JRI | -0.79% | 14.01 | $ | |
RYCEF | -0.39% | 15.35 | $ | |
BCE | 0.9% | 23.44 | $ | |
VOD | 0.09% | 11.28 | $ | |
BTI | -0.47% | 51.36 | $ | |
BP | -0.67% | 34.29 | $ |

Trump announces drug price cut with swipe at Europe
US President Donald Trump said Monday he would slash drug prices so they match those abroad, accusing Europe in particular of practices that force up prices for Americans.
Republican Trump claimed as he signed the executive order at the White House that drug prices should fall by at least 59 percent -- and in some cases as high as 80 or 90 percent.
He accused the European Union of "brutal" tactics to make pharmaceutical firms sell drugs for lower prices on their territory -- meaning companies then raise prices in the United States to keep their profits up.
"Whoever is paying the lowest price, that's the price that we're going to get," Trump said, flanked by controversial Health Secretary Robert Kennedy Jr.
Under the plan, Trump aims to institute a "Most Favored Nation" policy that pins the cost of drugs sold in the United States to the lowest price paid by other countries for the same drug.
"Even though the United States is home to only 4 percent of the world's population, pharmaceutical companies make more than two thirds of their profits in America," Trump said.
"The European Union has been brutal, brutal. And the drug companies actually told me stories it was just brutal, how they forced them."
Drug prices in the United States are among the highest in the world and they surpass what European countries pay.
Trump said American consumers had been treated like "suckers" and cited in particular the costs of the obesity-reducing drug Ozempic, which he said were vastly lower in Europe.
But the US president's plan will count mainly on the goodwill of pharmaceutical companies to negotiate their prices and could face legal challenges, as did a similar proposal Trump pushed during his first term.
Trump tasked Kennedy, who has caused controversy for his skepticism over vaccinations, to negotiate with pharma firms to lower prices over the next month.
"There has never been a president more willing to stand up to the oligarchs than Donald Trump," Kennedy said as he stood next to the billionaire property developer.
- 'Broken system' -
Drug companies defend the high prices saying these allow them to carry out research and develop new drugs.
Pharma giant Eli Lilly said it was also essential to act against large commissions charged by intermediaries in the United States, such as health insurers and hospitals.
"For Lilly, more than 60 percent of the cost of a medicine goes to middlemen. We look forward to working with the administration to fix this broken system and bring lower prices directly to consumers," a Lily spokesperson said.
Drug lobby organization Pharmaceutical Research and Manufacturers of America (PhRMA) said that "importing foreign prices from socialist countries would be a bad deal for American patients and workers."
Democratic Senator Bernie Sanders questioned Trump's arguments.
"The problem is not that the price of prescription drugs is too low in Europe and Canada. The problem is that the extraordinarily greedy pharmaceutical industry made over $100 billion in profits last year by ripping off the American people," Sanders said in a statement.
"Most favored nation" status is a World Trade Organization rule that aims to prevent discrimination between a country and its trading partners, levelling the playing field for international trade.
This is not the first time that Trump has attempted to lower US drug prices.
During his first 2017-2021 term in office, he announced a similar proposal to cut US drug prices but his plans failed in the face of strong opposition from the pharmaceutical industry.
Last month, the US president signed an executive order aiming to lower crippling drug prices by giving states more leeway to bargain-hunt abroad and improving the process for price negotiations.
L.Maurer--VB