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Amid ongoing anticipation over tariffs on pharmaceuticals, President Trump on Monday signed an executive order designed to lower regulatory hurdles and make it faster for drug companies to manufacture their products in the U.S. The move also includes plans to place more pressure on foreign drugmakers to comply with quality control inspections. (Silverman, 5/5)

A bipartisan pair of senators introduced legislation to lower prescription drug prices by prohibiting pharmaceutical companies from selling drugs in the U.S. at higher prices than the international average. The bill from Sens. Josh Hawley (R-Mo.) and Peter Welch (D-Vt.) is a riff on the “most favored nation” policy President Trump pushed in his first term, which tried to tie domestic prices for certain prescription drugs in Medicare to the lowest level paid by comparable countries. Drug companies sued shortly after the effort was launched as an interim final rule, and it was blocked in federal court. (Weixel, 5/5)

Hospitals could get higher 340B drug discounts if tariffs kick in for pharmaceuticals, potentially adding fuel to policymakers’ efforts to curb the program’s growth. Under a potential tariff policy, drugmakers would have to pay more for pharmaceutical ingredients, many of which are sourced from China and India, possibly resulting in higher production costs and drug prices. If drug prices rise, hospitals eligible for discounted drugs could generate more savings through the federal 340B drug pricing program, legal and policy experts said. (Kacik, 5/5)

Americans spent $98 billion out of pocket on prescription drugs in 2024, marking a cumulative 25% increase over five years, according to an annual report from analytics firm IQVIA. (Goldman, 5/5)