President Donald Trump said his administration is devising a system to allow the U.S. to buy drugs based on the lowest prices paid by other countries.
“We’re working on right now a favored-nations clause,” Trump told reporters at the White House July 5.
Last year, Trump described a proposal that would allow Medicare to set prices for drugs based on cheaper prices paid by other countries. Known as the International Pricing Index, those regulations are under review by the federal government.
“So, we’re paying a price based on the price that other nations are paying,” he said in October, referring...