President Trump is taking aim at U.S. drug prices with an executive order geared toward forcing drug companies to match the lower prices paid in other developed countries.

If drugmakers don’t do it voluntarily, the administration is threatening to directly tie drug prices paid by government programs like Medicare to those paid in other countries.

“Whoever is paying the lowest price, that’s the price that we’re going to get,” Trump said in an announcement at the White House, explaining what he called “most favored nation” pricing.

He said drugmakers would have to cut their U.S. prices to the level paid by other developed countries—or face consequences. “If necessary, we’ll investigate the drug companies, and we’ll, in particular, investigate the countries that are doing this,” he said. H

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