The order is based on a "most favored nation" pricing model, which is similar to a policy Trump pushed in his first administration.

Trump signed an executive order on May 12 aimed at lowering drug prices to better match what other countries charge.

A 2024 report published by the RAND research organization found, using 2022 data, that prices in the U.S. were 2.78 times higher than those in 33 comparable countries across all drugs.